Guitar Hero sales line pockets of Activision execs

Sales of Guitar Hero 3 and Call of Duty 4 have brought profits three times Wall Street's expectations for game developer Activision.

The company reported quarterly profits of $55 million, despite not releasing any new games.

Reuters reports that the company's revenue was $602.5 million, towering 93% above those recorded for the same period last year, and also smashing the average estimate of $373.6 million.

"It's the ongoing popularity of Guitar Hero and Call of Duty. It just shows what can happen in terms of performance when you have blockbuster hit titles", Colin Sebastian, an analyst with Lazard Capital Markets, told Reuters.

There may be more to come from Activision as it will complete its merger with Vivendi, the makers of World of Warcraft, in the coming months.

And new games are also planned including three new Guitar Hero titles: one for the Nintendo DS, an Aerosmith edition, and a new version that Activision is keeping very quiet about but is expected to be on the shelves just before Christmas.

Releases based on big Hollywood flicks including Kung Fu Panda and the new James Bond romp, Quantum of Solace, are also rumoured to be in development.