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Activision Blizzard Inc.
ATVI, -3.53%
Shares plunged Thursday after trading hours, following a profit report that did not meet expectations. The video game publisher made a profit of $ 160 million, or 34 cents a share, for a business turnover of $ 1.51 billion, down $ 1.62 billion a year ago. After adjustments, Activision reported a profit of 42 cents per share, up from 37 cents a share a year ago, but still below analysts' estimates. Analysts expect on average that Activision will publish an adjusted profit of 50 cents per share on net orders of $ 1.66 billion. Activision recorded net bookings – which add up to other sales – of $ 1.66 billion, down $ 1.9 billion a year ago. After closing with a 3.5% drop to $ 62.79, the shares traded for less than $ 58 in prolonged trading after the report's release. The stock has already fallen 24.5% so far this quarter, while the S & P 500 Index
SPX, -0.25%
lost 3.4%.
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