(By Salman - iStockAnalyst Writer)
Late on Wednesday, video game publisher Activision Blizzard (NASDAQ: ATVI) announced that it swung to a fourth quarter net loss of $72 million, or 5 cents a share, compared to profit of $86 million, or 15 cents a share in the same quarter, a year ago. On adjusted basis, the company earned $429 million, or 31 cents a share. Revenue increased to $1.64 billion from $453 million. Analysts on average were looking for earnings of 29 cents a share on revenue of $2.15 billion. CEO Robert Kotick commented "In 2008, we had four of the top-10 best-selling games worldwide for the year. Ninety percent of the top-ten best-selling games worldwide were based on proven franchises, validating our strategy of a focused product slate with high-quality titles based on well-established brands. We enter 2009 with the finest product slate in our company's history and an organization properly sized and resourced to compete alongside the many new entrants and existing competitors in our industry. During the year, we will continue to employ our proven strategies that have worked so well for us over the last decade." Looking ahead, the company expects to report earnings of 3 cents a share, excluding items. Analysts currently expect the company to earn 11 cents a share. Activision Blizzard lost over 4% in extended trading.
Chipotle Mexican Grill, Inc. (NYSE: CMG) said that its fourth quarter net income fell slightly to $17.0 million, or 52 cents a share, from $17.5 million, or 53 cents a share in the year ago quarter. Revenue grew 19.5% to $345.3 million from $288.9 million. Consensus expectations were for earnings of 49 cents a share on revenue of $339.41 million. For the full fiscal year 2008, the company reported a net income of $78.2 million, or $2.36 a share, compared to $70.6 million, or $2.13 a share in 2007. Revenue jumped 22.7% to $1.3 billion from $1.1 billion in previous year. Analysts' estimates were for earnings of $2.33 a share on revenue of $1.33 billion. Shares of the company surged 9.03% in after hours trade.
Equinix, Inc. (NASDAQ: EQIX) posted a fourth quarter profit of $116.5 million or $2.74 a share, compared to a loss of $6.07 million or 17 cents a share in the corresponding quarter, a year ago. Revenues increased to $190.68 million from $138.71 million. Analysts on average had expected the company to earn 25 cents a share on revenue of of $190.54 million. For the full fiscal year 2008, the company reported a profit of $131.54 million or $3.31 a share, compared to a loss of $5.19 million or 16 cents a share in 2007. Revenue surged to $704.68 million from $419.44 million. Analysts on average had forecast earnings of 66 cents a share on revenue of $704.54 million. Looking ahead, for the first quarter of 2009, the company expects revenue in the range of $198.0 million to $200.0 million that compares to analyst estimates of $199.96 million.
