Activision Blizzard posts wider loss

Company lost $286 million in fiscal fourth quarter

Activision Blizzard posted a wider loss on Wednesday 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 video game 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% to $1.6 billion.

Shares of Activision Blizzard rose a nickel to $10.10 during regular trading Wednesday and surged 8% 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.