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Activision Blizzard (ATVI) Stock Down in After-Hours Trading on Downbeat Outlook

NEW YORK (TheStreet) -- Shares of Activision Blizzard (ATVI) were lower in after-hours trading on Thursday as the company reported better-than-expected results for the 2016 third quarter but gave downbeat fourth quarter and full year guidance after today's market close.

Activision expects to report earnings of 5 cents per share for the fourth quarter, lower than its prior outlook of 6 cents per share. Revenue is projected to be $1.86 billion, while analysts are looking for $2.48 billion.

The company sees earnings of 98 cents per share in 2016. Revenue is expected to be $6.45 billion, below Wall Street's forecasts...