Shares in Activision Blizzard (NASDAQ: ATVI), whose Irvine-based Blizzard Entertainment Inc. unit makes online games “Call of Duty” and “World of Warcraft,” rose after fourth-quarter earnings, though lower, exceeded expectations.
Fourth-quarter revenue hit $1.99 billion in 2019, down from $2.38 billion a year ago, while quarterly earnings per share fell to 68 cents from 89 cents.
“Our fourth-quarter results exceeded our prior outlook for both revenue and earnings per share,” Activision Blizzard chief executive Bobby Kotick said in a statement. In a November earnings report the company lowered its outlook for the holiday season.
Shares in Santa Monica-based Activision Blizzard rose 2.9% to $62.00 per share in after-hours trading.
Blizzard Entertainment is Orange County’s largest software company by employee count.