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Activision Blizzard Shares Left Out in the Cold After Weak Guidance

Tony Owusu

Shares of video game maker Activision Blizzard Inc. were falling 11% in afternoon trading on Friday, Nov. 9, after the company reported mixed results in its third quarter earnings release.  The company reported earnings per share of 52 cents, after deferred accruals of 10 cents a share were added, on revenue of $1.66 billion after revenue deferrals. Activision expects fourth-quarter revenue of $3.05 billion, about $10 million less than Wall Street's expectations of $3.06 billion. As of Thursday's closing, Activision shares have now turned negative for the year.