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Activision Shares Tumble After Outlook Disappoints

Activision Blizzardshares tumbled in late trading Wednesday after its outlook for the full year fell far short of estimates.

Playing Guitar Hero
Playing Guitar Hero

The videogame publisher reported fourth-quarter earnings of 53 cents a share, excluding one-time items. Activision Blizzard earned 49 cents a share a year earlier.

Sales for the most recent quarter were $2.5 billion, in line with last year's revenue.

The company was seen earning 51 cents a share on revenue of $2.37 billion, according to a consensus estimate from Thomson Reuters.

Activision Blizzard said it expects 2011 full-year revenue of $3.9 billion and earnings of 70 cents a share, excluding one-time items. Wall Street analyst expected 2011 revenue of $4.69 billion and earnings of 83 cents a share, excluding one-time shares.

Shares of Activision Blizzard declined more than 6 percent in extended trading Wednesday. Get after-hour quotes for Activision Blizzard here.

The stock closed at $11.68 in the regular Nasdaq session. Volume exceeded 14.2 million shares before the closing bell.

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