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Activision Blizzard Suffers Wider Loss

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Activision Blizzard posted a wider loss while tagging some of its corporate cash for a shareholder dividend.

The company has $2.7 billion in cash and no debt. Activision Blizzard also has authorized a $1 billion share buyback.

The videogame company behind the Guitar Hero, Call of Duty and World of Warcraft franchises lost $286 million in the fiscal fourth quarter. That compared with a $72 million loss a year ago. Revenue fell 5 percent to $1.6 billion.

Shares of Activision Blizzard rose a nickel to $10.10 during regular trading Wednesday and surged 8 percent higher after the closing bell.

In the current quarter, Activision Blizzard expects to release just one title: How to Train Your Dragon, based on the upcoming 3D movie from DreamWorks Animation.