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Activision hits high score on Q2 beat, guidance

Activision Blizzard (NASDAQ:ATVI) leaped to a record high on Wednesday, a day after the video game publisher reported better-than-expected second-quarter sales and earnings.

Activision stock was up 12.1% to 28.77 in late morning trading on the stock market today.

Late Tuesday, the Santa Monica, Calif.-based company said that it had earned 13 cents a share excluding items, up 117% year over year, on sales of $759 million, up 15%, in the second quarter. Analysts polled by Thomson Reuters expected Activision to earn 8 cents a share ex items on sales of $666 million.

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Activision also raised its full-year outlook.

Like Electronic Arts (NASDAQ:EA), Activision has been helped by the shift to digital video game sales. Game publishers make more money from digital sales because it costs less to deliver game software online than...