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Activision earnings beat target; forecast falls short

07
Feb
2014

By Malathi Nayak SAN FRANCISCO (Reuters) – Activision Blizzard Inc reported better-than-expected fourth-quarter income on strong sales of its Call of Duty titles during the holidays, helping drive its stock to a five-year high despite a middling first-quarter outlook. The largest U.S. videogame publisher believes its coming action game Destiny will become the companys next billion-dollar franchise, Chief Executive Officer Bobby Kotick said in a statement. Activisions strategy of doing a few things extremely well while keeping a close eye on costs has served us well and we expect it to continue to serve us well in the future, Chief Financial Officer Dennis Durkin said on an earnings call with analysts. The company, also known for its Skylanders games, said its fourth-quarter revenue dropped to $1.52 billion from $1.77 billion a year ago, and net income fell to 22 cents per share from 31 cents per share, in the year-ago period.

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