Activision-Blizzard broke an incredible streak Thursday when it reported its disappointing fiscal fourth-quarter results. For the first time in 10 years, it missed its revenue guidance, said Michael Pachter of Wedbush Securities.
And if it hadn't been for a congressional decision in December to reinstate investment tax credits for increasing research spending, it would have missed its earnings per share target, as well.
That was just the tip of the bad news for the video-game publisher. The company's mighty "Skylanders" franchise showed its first signs of weakness, with disappointing holiday sales; officials warned that this year's "Call of Duty" installment will likely see a sales drop; and an anticipated game that was expected to ship this holiday season was delayed to 2017.