Santa Monica, California-based Activision Blizzard raised its 2009 operating profit forecast to $1.2 billion from $1.1 billion, but some on Wall Street had expected more, and shares dipped slightly in after-hours trading.
"Their guidance is quite conservative and we think that number could be almost 15 percent higher than that," said Sterne, Agee & Leach analyst Arvind Bhatia.