At the beginning of 2019, Activision Blizzard made some changes. Spencer Neumann, CFO of the company, joined Netflix and Amrita Ahuja, CFO of Blizzard, moved to Square Inc. Today there was another reissue, when it became known that the company had the publishing rights to Bungies Destiny which resulted in a significant decline in the value of the Activision Blizzard share.
Specifically, the company's stock fell more than 6.5% after announcing that Activision Blizzard would divest Destiny 2 . This decline fell after the close of trading following a one-hour trade on a day when the stock rose 1% to $ 51.35 as the announcement came after the market was already closed.
In fact, investors seem to be worried about the impact of the loss Destiny as a source of revenue, and Stifel analysts suspect that the absence of the sci-fi shooter "across the content pipeline Activision Publishing will create a void ". Analysts also point out that the overall financial impact is likely to be limited, and Activision Blizzard seems to share this assessment, declaring in a security filing that no "operational loss" is expected.
When Activision Blizzard began publishing Destiny after a partnership with Bungie began in 2010, the company's stock was on the rise. In 2015, it reached an all-time high, before it came to some notable burglaries, which reached its peak in the last year. The company closed in the year 2018 by 26%.
Some analysts have raised concerns about the company's release schedule for 2019 as the cause of these losses, which is controversial, especially at last year's BlizzCon. While Activision Blizzard points out that the loss of Destiny will not affect the bottom line, the absence of the title from the company's portfolio certainly does not improve the year's offer.
Last November, Activision Blizzard pointed out that Destiny's financial results had fallen short of expectations, which led to Luke Smith, Game Director of Destiny 2 taking the defense's social media title Undoubtedly, the two companies have not seen the franchise on par, and time will tell how much the divide affects the company's finances.
Destiny 2 is now available on PC, PS4 and Xbox One.
Source: The Wall Street Journal