It takes more than a Fortnite to shoot down Call of Duty. But what happens when even more bullets start flying?
Investors had been worried that the runaway videogame hit from independent developer Epic Games would hurt franchise properties from publishers such as Activision Blizzard, Take-Two Interactive and Electronic Arts. But first-quarter results from Activision last week suggest that established games are a bit more resilient. That also bodes well for Take-Two, whose “Grand Theft Auto” franchise was also thought to be...