Why Activision Blizzard's Shares Plunged 12.7% This Week
Shares of gaming company Activision Blizzard (NASDAQ: ATVI) fell 12.7% in the first four trading days this week, according to data provided by S&P Global Market Intelligence, after the company reported an underwhelming quarter. Shares fell the most on Wednesday, following the earnings report, and have tried to mount a small gain late in the week.
Third-quarter 2021 results were pretty solid with revenue of $1.95 billion coming in slightly below guidance but earnings per share of $0.78 easily topping the $0.64 management had given as outlook. But fourth-quarter revenue is expected to be just $2.02 billion and earnings is expected to be $0.54 per share, which is disappointing given the typically strong holiday quarter for gaming stocks.
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Source Fool.com
