Spiderman Lifts Activision Past Guidance

In yet another sign that the video game sector is one of the few areas of solace for tech investors, game software publisher Activision reported earnings that blew past both consensus and its own raised guidance for its fiscal first quarter 2003.

Activision shares closed the day up 53 cents, or 2.20%, to $24.60. It gained another $1.06, or 4.31%, to $25.66 in after-hours trading after the company reported earnings.

Games based on the Spiderman cartoon character and on skateboarder Tony Hawk helped the nation's No. 2 independent game publisher report record earnings of $20.7 million, or 31 cents a share, compared with $29,000 and flat earnings in the same period a year ago. ...