Activision Blizzard (ATVI) reported earnings that were below the expectations of Wall Street analysts during its traditionally strong holiday quarter. And its stock price has fallen 16 percent in after-hours trading as a result.
The earnings for the fourth fiscal quarter ended December 31 draw hordes of watchers, as Activision Blizzard is the largest independent video game publisher in the U.S., and its results are a bellwether for the $91 billion global game industry (based on market researcher Newzoo’s estimates). The company fell short of expectations even though it had an outstanding performance from Call of Duty: Black Ops III, the latest installment in a series that has generated more than $15 billion over a decade.
GamesBeat