Activision Blizzard (ATVI) Beats Wall Street Expectations For Q1 2016 With Help From King's 'Candy Crush'

Activision Blizzard Inc. (NASDAQ:ATVI) beat analysts' expectations Thursday with revenue of 1.46 billion, the company revealed in its earnings report for the first three months of 2016. Analysts had forecast around 1.3 billion. The beginning of the year is notoriously sleepy for video games due to the lack of major releases, but the completed acquisition of King in February added intrigue as investors saw the first returns in the 5.9 billion investment in the developer of "Candy Crush." Activision Blizzard's adjusted revenue of 908 million was up 29 percent year-over-year. The company reported King had 463 monthly active users with a net revenue of 207 million, accounting for 23 percent of Activision Blizzard's total sales.