Activision boosts earnings forecast

Game publisher Activision on Monday increased its earnings forecast for the current first quarter and the full 2003 fiscal year, citing strong sales of new titles. The company said in a statement it expects earnings of 18 cents a share and revenue of $165 million for the quarter, compared with previous guidance of 10 cents a share and revenue of $145 million.

For the year, the company now expects earnings of $1.10 a share and revenue of $890 million, up from previous guidance of $1.02 a share and revenue of $870 million. Activision's games based on the movie "Spider-Man" topped sales charts in May. The company also has several successful franchises of its own, including the "Tony Hawk Pro Skater" series of skateboarding games.