Profits decline by 10pc at Cork-based video gaming giant

Activision Blizzard is the firm behind the blockbuster World of Warcraft and Call of Duty games. Its Blizzard Entertainment Ireland saw profits decline in spite of revenues rising from €23.25m to €28.14m.

At the start of 2012, the Cork-based firm employed 926. However, a review of Activision Blizzard's global operations resulted in large job cuts at the Irish unit in 2012 and 2013 and continued into last year.

This resulted in the firm reducing its workforce from 563 to 511 last year.

According to the accounts, "the directors are satisfied with the performance of the company for the financial year. The company continues to develop the portfolio of services provided to other group companies."

Last year, Call of Duty: Advanced Warfare was the world' top selling game and the franchise has exceeded $11bn in sales since 2003.