The Good and the Bad From Activision Blizzard's Q3 Earnings Report
Last week, the video game publishing company Activision Blizzard (NASDAQ: ATVI) released its third-quarter earnings and saw its stock drop nearly 15% immediately following the report. While the company delivered some disappointing news for the upcoming fiscal year, there were also several notable bright spots across its portfolio of games. Let's take a look.
Before mentioning some of the highlights from the most recent quarter, it's probably best to cover the bad news first.
In the company's earnings presentation, management announced one of its three main publishing studios -- Blizzard Entertainment -- will be delaying the launch of the newest installments for two hit franchises, which were previously expected to come out in 2022. Though the exact numbers are unclear, the two delayed titles -- Diablo IV and Overwatch 2 -- would likely have delivered meaningful contributions to Blizzard's financial results. While these delays are certainly disappointing for both gamers and shareholders, it's the reasoning behind the delays that might be a larger cause for concern.
Source Fool.com
