Activision posts wider loss but beats forecast
SANTA MONICA, Calif. -- Activision Blizzard says its loss widened in the last quarter because of accounting changes and a write-down of the value of its music games and other titles aimed at casual video game players.
The company also issued a full-year outlook below Wall Street forecasts amid an uncertain economy that hasn't spared video games.
But the maker of "Call of Duty" and "World of Warcraft" managed to exceed Wall Street estimates in the last quarter. Activision lost $286 million, or 23 cents per share. This compares with a loss of $72 million, or 5 cents per share, a year earlier.
Adjusted earnings were 49 cents per share. Analysts surveyed by Thomson Reuters had predicted a profit of 43 cents per share.
Revenue was $1.56 billion, down 5 percent.