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Activision leads tech sector after raising guidance

Activision led the tech sector in today's US stock market, with shares up more than 13 per cent following an announcement that it was raising its financial guidance

Activision led the tech sector in today's US stock market, with shares up more than 13 per cent following an announcement that it was raising its financial guidance.

Before the market opened on Tuesday, Activision raised its Q3 and fiscal year 2008 guidance to reflect strong sales of Guitar Hero III and Call of Duty 4. It now anticipates Q3 revenue of USD 1.225 billion and FY 08 revenue of USD 2.3 billion.

The company had previously estimated Q3 revenue of USD 1.05 billion and FY 08 revenue of USD 2.07 billion.

Activision's stock closed at USD 21.54, up USD 2.61 for the day, approaching its 52-week high of USD 24.

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