Activision Blizzard loses $108m in Q209, plans to repurchase $1 billion in stock
Publishing powerhouse Activision Blizzard (or "A.B. Atta' Boy" to its friends) has released its fiscal quarter results for the three-month period ending September 30. Overall, the company incurred a $108 million net loss, with a bulk of that (at least $188 million) from costs related to the merger with Vivendi Games. Top games for the quarter were Call of Duty 4, Guitar Hero: Aerosmith, GH: On Tour and money gusher World of Warcraft.
As part of its September quarter fiscal results, Activision Blizzard has announced that it has "authorized a stock repurchase program under which the company can repurchase up to $1 billion of the company's common stock." The company's stock price has been in decline since September (and has taken a noticeable hit today, too). While the motivations aren't known, it is likely in part to increase the earnings per share. Don't feel too bad for A.B., though. After all, Wrath of the Lich King is just around the corner.
