Atari zapping up profits with home video games
New York — With what is said to be the most successful new product in American business history, Atari, the maker of home video games, is reaping huge profits for its owner, Warner Communications.
The price of Warner's stock has risen from about $45 a share last summer to about $61. Warner bought Atari for $27 million in 1976, when sales totaled about $40 million. Now sales are running at $1 billion.