Activision Q1 Surprise

Activision has posted a first-quarter net loss of $5.2 million or 21 cents per share, beating Wall Street's estimated loss of 29 cents per share. In the same period last year, the company posted a net loss of $4.6 million or 19 cents per share. Revenues climbed to $84.5 million from $84.1 million, a feat which the company attributed in part to the success of Tony Hawk's Pro Skater, which has sold approximately 3 million units so far for Playstation, Nintendo 64, Dreamcast, and Game Boy Color, and also to better-than-expected market conditions. Activision expects its second-quarter earnings to be about 10 cents per share, twice Wall Street's current consensus.