Activision Blizzard Foresees a Return to Growth in 2020
Activision Blizzard (NASDAQ: ATVI) just closed the books on a difficult financial year that was heavily impacted by its divestment of the Destiny gaming franchise. Between its now-smaller portfolio and the struggles it experienced with some other video game titles, its revenue fell by just over $1 billion in 2019, to $6.5 billion.
In a conference call with Wall Street analysts, CEO Bobby Kotick and his team projected a modest boost in fiscal 2020, though sales will be pressured due to the start of the transition to the next generation of gaming consoles. Yet executives detailed plenty of positive momentum as Activision Blizzard aims to push its biggest franchises into new platforms and subscription-based selling models.
Let's look at a few highlights from management's call with investors, which included the company's financial targets for 2020.
Source Fool.com
