Activision Blizzard Q4 Profit Down

(RTTNews) - Activision Blizzard (ATVI) Thursday reported a drop in profit for the fourth quarter as revenues slipped 16%.

Santa Monica, California-based Activision Blizzard's fourth-quarter profit dropped to $525 million or $0.68 per share from $685 million or $0.89 per share last year.

Adjusted earnings for the quarter were $0.62 per share, down from $0.90 per share last year.

The company's revenue for the quarter fell 16.4% to $1.99 billion from $2.38 billion last year.

Looking forward to the first quarter, the company expects revenues of $1.64 billion and adjusted earnings of $0.66. Analysts currently estimate earnings of $0.39 per share and revenues of $1.35 billion.

For the full year, Activision expects revenues of $6.45 billion and adjusted earnings of $2.22 per share. Analysts currently estimate earnings of $2.49 per share and revenues of $6.92 billlion.