Activision has holiday quarter loss despite ‘Call of Duty’ release
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Activision Blizzard widened its losses in the fourth quarter because of accounting changes and a hefty reduction of the value of its music games and other titles aimed at casual video game players. The maker of “Call of Duty” and “World of Warcraft” lost $286 million, or 23 cents a share, in the last three months of 2009. This compares with a loss of $72 million, or 5 cents a share, a year earlier.
The company also said it remains cautious about the economy, and its 2010 forecast fell below analyst expectations. However, its shares rose 4 percent in extended trading after Activision said it would buy back up to $1 billion of its stock and would pay its first dividend, 15 cents a share annually.
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