Updated from 4:27 p.m. EDT
The company also guided results higher for the third quarter and full fiscal year.
Net income for the second quarter was $700,000, or break-even earnings per share, compared with a loss of $24.3 million, or 9 cents a share, the same quarter a year ago.Excluding the impact of expenses related to equity-based compensation, Activision earned 2 cents a share. Analysts were expecting a loss of a penny a share. Revenue rose 69% to $317.7 million. Analysts were expecting revenue of $268.9 million. Shares of Activision, which have climbed by more than 25% since mid-August, were recently off 42 cents, or 1.2%, to $22.48 in recent after-hours trading. For the third quarter, the company expects revenue of $1.05 billion and earnings of 51 cents a share, including the impact of equity-based compensation. Excluding charges, Activision expects to report earnings of 65 cents a share, higher than Street expectations of 50 cents a share on revenue of $896.9 million. For the fiscal year, Activision raised its revenue outlook to $2.07 billion and EPS to 55 cents. Excluding charges, the company expects earnings of 65 cents a share. Analysts were expecting revenue of $1.92 billion and earnings of 65 cents a share.