Activision Loss Widens as Revenue Declines
From the Associated Press
Video game publisher Activision Inc. posted a wider loss for its fiscal first quarter on lower sales, but the results were better than expected and shares rose in after-hours trading.
For the quarter ended June 30, the Santa Monica-based company posted a loss of $17.8 million, or 6 cents a share, compared with a loss of $3.6 million, or a penny a share, during the same period a year earlier.
The results included a penny a share in stock options expenses.
Sales fell 22% to $188.1 million from last year’s $241.1 million.
The video game sector has faltered in recent months, but solid June sales data have signaled that the worst may be over.
