Activision-Blizzard's Quarter Beats ExpectationsThursday, August 2, 2012
Shares of Activision-Blizzard Inc. fell nearly 2 percent in after-hours trading Thursday after the company reported a better-than-expected second quarter but provided guidance for the current quarter that was lower than analysts expected.
The Santa Monica video game developer reported net income of $185 million (20 cents a share), 45 percent lower than in the same period a year earlier. Revenue fell 6 percent to $1.05 billion. Analysts had expected 12 cents a share profit on revenue of $863 million.
The company, citing economic uncertainty that may slow sales, expects third quarter profit of 7 cent a shares on revenue of $690 million. That’s below the Wall Street consensus of 12 cents profit on revenue of $730 million.