UPDATE 2-Activision Blizzard's holiday-quarter forecasts miss estimates [Reuters]
Activision Blizzard, Inc (ATVI)
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Source: Reuters
Activision Blizzard's holiday-quarter forecasts miss estimates | Reuters 3 Min Read (Reuters) - Activision Blizzard Inc ( ATVI.O ) on Thursday forecast fourth-quarter profit, revenue below analysts’ estimates and the video game publisher said the “Destiny” game franchise was underperforming its own expectations. The company’s shares were down 10.8 percent at $56.02 in after-market trading. “Destiny 2: Forsaken” was released in September and is a major expansion pack to the company’s hugely popular “Destiny 2” first-person shooter game. “While Forsaken is a high-quality expansion with strong engagement and new modes of play, we did not achieve our commercial expectations, and there’s still work to do,” President Collister Johnson said on a post-earnings call. For the fourth quarter, Activision forecast an adjusted profit of $1.27 per share and adjusted revenue of $3.05 billion. Analysts on average had expected the company to earn $1.34 per share on revenue of $3.06 billion, according
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