Microsoft Deal, Not Earnings, Is the Focus for Activision Stock

Wall Street barely reacted to


Activision Blizzard’s


third-quarter results on Monday because investors are much more focused its deal to be acquired by


Microsoft


for $69 billion in cash.

Activision Blizzard


reported net bookings, a form of adjusted revenue, of $1.83 billion, while non-GAAP earnings hit 68 cents a share. Analysts polled by FactSet had forecast bookings of $1.7 billion and non-GAAP earnings of 50 cents a share. The company said its Call of Duty: Modern Warfare II title was the fastest-selling in the franchise’s history.