Activision turns in better-than-expected earnings

MarketWatch.com - MarketPulse SAN FRANCISCO (MarketWatch) -- Activision Blizzard Inc. late Thursday reported its fourth-quarter earnings fell to $174 million, or 22 cents a share, from $354 million, or 31 cents a share, a year ago. On an adjusted basis, the publisher of games such as Call of Duty and Skylanders would have earned 79 cents a share. Analysts surveyed by FactSet had forecast quarterly earnings of 73 cents a share. Revenue decreased to $1.52 billion versus $1.77 billion. Activision expects first-quarter adjusted earnings of 9 cents a share versus an average estimate of 10 cents a share. Activision s stock surged 9.5% in after-hours trading. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.