SAN FRANCISCO ( TheStreet) – Activision Blizzard ( ATVI) jumped Wednesday after the game publisher beat analysts estimates for the third quarter and raised its guidance for 2014. FireEye ( FEYE) and TripAdvisor ( TRIP) weren't as fortunate as investors pounded the stock following a weaker-than-expected performance and forecast.
Santa Monica, Calif.-based Activision, publisher of "World of Warcraft," gave investors an upside surprise when it posted adjusted earnings of 23 cents a share on adjusted revenue of $1.17 billion, surpassing the consensus estimate of 13 cents per share on revenue of $1.01 billion from analysts surveyed by Thomson Reuters.
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Activision also bumped up its full-year earnings forecast to $1.35 per share on revenue of $4.8 billion from its previous estimate of $1.29 earnings per share on revenue of $4.7 billion, according to Thomson Reuters. Investors who are interested in a detailed look into the quarter can check out Activision's earnings call transcripts here. Investors applauded the quarterly performance and better than expected forecast by pushing the shares up 4.4% to close at $20.83.
FireEye tanked 15% to close at $29.12 after the Milpitas, Calif., network security provider issued a weaker forecast for its fourth quarter and full year revenue. FireEye made the announcement during its earnings call Tuesday after the markets closed.
The security software company said it expects fourth-quarter revenue of $135 million to $147 million, whereas Wall Street expected to see $144.2 million, according to analysts surveyed by Thomson Reuters. And for the full year, FireEye told investors to expect $418 million to $430 million in revenue. Analysts, however, were expecting $428.4 million.
A copy of the transcripts for FireEye's earnings call can be found here. Market observers warned investors should stay clear of FireEye and TripAdvisor, at least for now.