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Activision Blizzard hits Q3 earnings but spooks investors with weak Q4 forecast

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Jeff Bautista
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Investors seem prone to be spooked about Activision Blizzard‘s earnings these days.

Activision Blizzard reported results for the third fiscal quarter ended September 30 that exceeded analysts’ expectations on Thursday, but the stock fell 8 percent in after-hours trading because the company was cautious about its guidance for the all-important fourth fiscal quarter.

The Santa Monica, California-based video game giant earned 52 cents per share, which was better than expected analysts’ expectations of 49 cents to 51 cents per share.

Revenue was in line with expectations at $1.66 billion.

Activision Blizzard said it expects earnings of 43 cents per share on $2.2 billion in revenue for the fourth quarter ending December 31.

“Activision Blizzard’s results for Q3 exceeded our prior outlook as we continue to entertain large audiences, drive deep engagement, and attract significant audience investment across our franchises,” CEO Bobby Kotick said in a statement.

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Jeff Bautista
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