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Activision Blizzard Stock Drops 14% After Earnings Call and Jen Oneal Steps Down as Co-Leader

Activision Blizzard Stock Drops 14% After Earnings Call and Jen Oneal Steps Down as Co-Leader

At the moment the Activision Blizzard stock is down 14,52% after today’s investor presentation despite revenue growing 20% year-over-year, much due to Diablo II: Resurrected, which had the best first week of sales of any of the company’s remasters.

Both Overwatch 2 and Diablo 4 is getting pushed back and D4 will likely see a 2023 release date.

Blizzard’s monthly active users seem to have stabilized at around 26M and World of Warcraft doesn’t seem to be doing as bad as expected, much due to the success of Classic.

World of Warcraft® reach and engagement continues to benefit from the combination of the Modern game and Classic under a single subscription. •

World of Warcraft is on track to deliver its strongest engagement and net bookings outside of a Modern expansion year in a decade

Co-Leader at Blizzard, Jen Oneal also made the announcement that she would be stepping down at the end of the year, leaving Mike Ybarra as the leader going into 2022.

“I want you to hear from me personally that I have made the decision to step away from co-leading Blizzard Entertainment and will transition to a new position before departing ABK at the end of the year. Effective immediately, Mike Ybarra will lead Blizzard. I am doing this not because I am without hope for Blizzard, quite the opposite–I’m inspired by the passion of everyone here, working towards meaningful, lasting change with their whole hearts. This energy has inspired me to step out and explore how I can do more to have games and diversity intersect, and hopefully make a broader industry impact that will benefit Blizzard (and other studios) as well. While I am not totally sure what form that will take, I am excited to embark on a new journey to find out. “