Game publisher Activision Blizzard, Inc. (NASDAQ: ATVI) has reported an increase in fourth-quarter earnings, despite a year-over-year decline in revenues. The results fell short of expectations.
Fourth-quarter net income, on an adjusted basis, increased to $1.01 per share from $0.76 per share in the year-ago period but missed analysts’ consensus estimates. Reported net income, including special items, was $564 million or $0.72 per share, compared to $508 million or $0.65 per share in the fourth quarter of 2020.
Meanwhile, net revenues declined 10% annually to $2.16 billion during the three-month period. The latest number also missed Wall Street’s projection.
Activision Blizzard’s stock traded lower early Friday, after closing the previous session lower. It has gained 17% since the beginning of the year.
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