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Activision Blizzard falls 10 percent after reporting decline in monthly active users

Waverly Colville
Activision Blizzard shares fell 10 percent during after-hours trading Thursday as the video game company missed estimates on fourth-quarter revenue projections but beat third quarter earnings-per-share predictions.

Activision Blizzard shares plunged 10 percent in after-hours trading after reporting its third straight quarterly decline in monthly active users. The video game company, which owns the Call of Duty and World of Warcraft franchises, reported 345 million monthly active users, down from 352 million in the previous quarter.

The video game company reported 52 cents a share in profit, up from estimates of 50 cents per share. Its revenue was in line with estimates at $1.66 billion.

The company predicts its fourth quarter revenue to be $3.05 billion, missing estimates of $3.06 billion, according to Reuters. For earnings per share, the company forecasts $1.06 a share, again missing analysts' predictions of $1.34 a share.

It launched popular video games during the third quarter, such as "Call of Duty: Black Ops 4" and "World of Warcraft: Battle for Azeroth." It will add updates to "World of Warcraft" in December, an executive said on the earnings call. It recently announced a new game called "Diablo Immortal," due to launch some time in 2019.