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Activision Blizzard Rises on Earnings

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.

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Kevin Costelloe
Kevin Costelloe
Tech reporter at Orange County Business Journal
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