Home News Activision Blizzard stocks plummet after news it’s lost Destiny

Activision Blizzard stocks plummet after news it’s lost Destiny

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The publisher says it doesn't expect to lose any revenue as a result of its split from Bungie.

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.

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.