Activision posts wider loss but beats forecast

Updated 2/10/2010 2:37 PM

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.

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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.