Activision Blizzard is looking to the 2020 release of newest game in the “Call of Duty” franchise.

Activision Blizzard is looking to the 2020 release of newest game in the “Call of Duty” franchise. Photo by Ringo Chiu.

Activision Blizzard, parent company of Irvine-based Blizzard Entertainment, reported third-quarter earnings that beat analyst estimates.

The Santa Monica-based company said net revenue came to $1.28 billion in the three months ended Sept. 30, above predictions of $1.16 billion. Basic earnings per share were 27 cents, while analysts foresaw an EPS of 23 cents.

“As we introduce mobile and free-to-play games based on our franchises we believe we can increase audience size, engagement and monetization,” chief executive Bobby Kotick said in releasing results.

Shares (Nasdaq: ATVI) fell after hours about 2% to $53.50 apiece and a $42 billion market cap.