Why Activision Blizzard's Stock Is Trading Higher Today

Activision Blizzard Inc ATVI is trading higher Wednesday morning after the company announced its second-quarter financial results and issued guidance. 

Activision Blizzard reported quarterly GAAP earnings of $1.12 per share, which was up from 75 cents per share year over year. The company reported quarterly GAAP revenue of $2.3 billion, which was up from $1.93 billion year over year. 

Activision Blizzard expects third-quarter earnings to be in a range of 74 cents per share to 85 cents per share. The company issued third-quarter revenue guidance of $2.09 billion. 

“With respect to our financial performance, we are pleased that the company continued to deliver strong results in the second quarter, and we are raising our outlook for the year,” said Bobby Kotick, CEO of Activision Blizzard.

Activision Blizzard was formed in 2008 by the merger of Activision, one of the largest console video game publishers, and Blizzard, one of largest PC video game publishers.

Price Action: Activision Blizzard has traded as high as $104.53 and as low as $71.19 over a 52-week period.

At last check Wednesday, the stock was up 5.66% at $84.35.