Activision Blizzard revenue fell in the fourth-quarter as consumers spent less on video games during the holiday season.

Activision Blizzard, the world's largest stand-alone game publisher, posted a loss of $233 million or 20 cents a share, compared to a loss of $286 million or 23 cents a share a year earlier.

The company's revenue was $1.42 billion, down 8 percent from $1.55 billion a year earlier.

Activision Blizzard also said it would repurchase up to $1.5 billion of outstanding common stock.

Santa Monica, California-based Activision Blizzard shares closed 1.6 percent lower at $11.69 on the Nasdaq Wednesday.

(reporting by Liana B. Baker; Editing by Bernard Orr)