SANTA MONICA (dpa-AFX) - Activision Blizzard Inc (ATVI) reported that its fourth-quarter GAAP earnings of $99 million or $0.08 per share, compared to a loss of $233 million or $0.20 per share in the fourth quarter of 2010.
On a non-GAAP basis, the company's earnings per share were $0.62, as compared with $0.53 for the fourth quarter of 2010.
GAAP net revenues were $1.41 billion, as compared with $1.43 billion for the fourth quarter of 2010. On a non-GAAP basis, the company's net revenues were $2.41 billion, as compared with $2.55 billion for the fourth quarter of 2010.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.56 per share on revenues of $2.20 billion for the quarter. Analysts' estimates typically exclude special items.
Activision Blizzard also announced that its Board of Directors has authorized a new stock repurchase program effective April 1, 2012 under which the company can repurchase up to $1 billion of the company's outstanding common stock. The company's $1.5 billion stock repurchase plan program authorized in February 2011 is set to expire on March 31, 2012.
The company said that its Board also declared a cash dividend of $0.18 per common share payable on May 16, 2012 to shareholders of record at the close of business on March 21, 2012. This represents a 9% increase over the dividend that was paid in 2011.
For the first-quarter, the company expects GAAP earnings per share of $0.22 , and non-GAAP earnings per share of $0.03. GAAP net revenues are expected to be $965 million and Non-GAAP net revenues are expected to be $525 million. Analysts expect the company to report earnings of $0.14 per share on revenues of $771.67 million for the first-quarter.
For the calendar year 2012, the company expects GAAP earnings per share of $0.63 , and non-GAAP earnings per share of $0.94. GAAP net revenues are expected to be $4.15 billion and Non-GAAP net revenues are expected to be $4.50 billion. Analysts expect the company to report earnings of $0.96 per share on revenues of $4.55 billion for fiscal 2012.
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