Activision Blizzard lays off hundreds of staff

13 February, 2019, 12:42 | Author: Patty Hardy
  • Report: Activision Blizzard to lay off hundreds of staff – TheSixthAxis

Bremer Natl Association reported 0.05% stake. As for a performance, the company's showed return of -6.79% since start of the year. First Advsr Ltd Partnership stated it has 0.12% in Activision Blizzard, Inc.

Sources told Bloomberg in a Friday, Feb. 8 report that hundreds of job cuts are expected as the American video game restructures to improve its profits.

Schreier also comments that these layoffs may mostly occur within Blizzard, shifting some of the roles to Activision proper, "further reducing Blizzard's autonomy".

Activision reported a net income of $650 million, or 84 cents per share in the fourth quarter ended December 31, compared to a loss of $584 million, or 77 cents per share, a year earlier when it recorded a charge related to US tax laws. Activision Blizzard, Inc. now has a market cap of $30.99B, while its P/E ratio stands at 25.43, while its P/E earnings growth sits at 4.33, with a beta of 0.88.

The outlook initially sent the stock down as much as 5 percent in late trading, but the shares rebounded as Activision laid out its comeback plan. About 94,065 shares traded.

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Activision's results follow weak reports from rival publishers Take-Two Interactive Software Inc and Electronic Arts Inc, adding to fears that competition from free-to-play battle royale games "Fortnite" and "PUBG" was eating into sales. It has underperformed by 22.23% the S&P500.

For more Activision Blizzard, Inc.

Activision Blizzard severed a 10-year partnership with the game studio Bungie, following disappointing sales of "Destiny 2: Forsaken" last September - a move that could shave up to $400 million from Activision Blizzard's annual revenues, estimates Piper Jaffray analyst Michael Olson.

Development in the franchise alternates between Infinity Ward, Sledgehammer, and Treyarch, so the news shouldn't come as a surprise. (NASDAQ:ATVI) were released by: Nasdaq.com and their article: "Technology Sector Update for 11/09/2018: ATVI, FNSR, IIVI, YELP - Nasdaq" published on November 09, 2018 as well as Nasdaq.com's news article titled: "Notable Wednesday Option Activity: KHC, ATVI, LH - Nasdaq" with publication date: February 06, 2019. Therefore 50% are positive. The firm has "Overweight" rating given on Monday, October 15 by Barclays Capital. Cibc World has invested 0.02% in Activision Blizzard, Inc. (NASDAQ: ATVI), there are now ratings available from 22 different stock market analysts who have all given their professional opinions. Bluemountain Cap Management Ltd Llc reported 20,395 shs stake.

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