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Activision Blizzard stocks plummet after news it’s lost Destiny

Activision Blizzard stocks have taken a hit today after news broke that the publisher would no longer publish the Destiny franchise.

Via Gamespot, we now know that Activision Blizzard shares fell by almost 7% in after-hours trading on the New York Stork Exchange after a joint announcement by the publisher and developer Bungie that confirmed the latter would now self-publish the franchise.

According to our friends, who manage The Motley Fool reviews, it seems its investors aren’t quite sold on the notion the split won’t impact Activision Blizzard’s revenue. Despite those fears, the publisher filed a Securities & Exchange Commission report that states, “[Activision Blizzard] does not expect to recognize material revenue, operating income or operating loss from the Destiny franchise in 2019.”

Activision’s next earnings report will be issued on 12 February.

Activision Blizzard has seen quite a lot of change in the last little bit — it’s lost its CFO to Netflix and Blizzard CFO to Square; the company also recently appointed Rob Kostich as the new President of Activision and Humam Sakhnini as President of King Digital Entertainment.

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Steve Wright

Steve's the owner of this very site and an active games journalist for the past ten years. He's a Canadian-Australian gay gaming geek, ice hockey player and fan. Husband to Matt and cat dad to Wally and Quinn.