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Activision Blizzard Releases Q2 Financials, CEO Addresses Lawsuit With Token Platitudes

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Activision Blizzard revealed its monetary outcomes for Q2 2021 yesterday, however most individuals weren’t half as within the numbers as they had been for the corporate’s response to its current barrage of unhealthy news. The report led with a line from CEO Bobby Kotick: “With respect to our monetary efficiency, we’re happy that the corporate continued to ship robust leads to the second quarter, and we’re elevating our outlook for the 12 months.” Good luck with that.

So far as the numbers go, there was nothing too shocking revealed. Take into account that these mirror monetary outcomes by means of the tip of Q2, or June 30, a couple of weeks earlier than the current controversy started. Web revenues for the quarter had been $2.3 billion, up barely from Q1 2021 and up 19% from the identical quarter in 2020. In-game web bookings had been down barely year-over-year.

Blizzard claimed 26 million month-to-month energetic customers (MAUs) in the course of the quarter, with the standard suspects — World of Warcraft/WoW Traditional and Hearthstone — being referred to as out for his or her good performances, with Overwatch 2 and Diablo 4 each described as making good progress. (By the way in which, do you know that Hearthstone’s newest enlargement launched yesterday? We didn’t.)

As for the sexual harassment claims and pending authorized motion, the report did embody a paragraph with the heading “Dedication to a Protected Working Atmosphere.” It acknowledged the present controversy and stated that the corporate has “engaged a regulation agency to conduct a evaluation of our insurance policies and procedures.” That agency is WilmerHale, which has already been rejected by employees for its “union-busting” actions. The remainder of the paragraph speaks of Activision Blizzard’s dedication to “investigating worker issues,” “imposing acceptable penalties” for wrongdoers, and a dedication “to creating probably the most welcoming, snug, and secure tradition potential.”

The transcript of the open Q&A session following the buyers’ name is curiously not obtainable on the website right now, because it has been the day after such calls up to now. What we’re listening to, although, is that the questions had been comparatively delicate and predictable, and Kotick responded with solutions that had been simply as predictable. His too-late hardline stance that there’s “no place in our firm the place discrimination, harassment or unequal remedy of any form might be tolerated” and hole appreciation for “the present and former staff who’ve come ahead” — as considered one of his top-level executives decries whistleblowing — served solely to mollify shareholders, his main concern, and can do nothing to please followers or gamers.

Sadly, that seems to have labored, no less than within the quick time period, as the corporate’s inventory costs rebounded from a major drop the morning after the decision:

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We’ll examine again with that in three months, when the total impact of the lawsuit and surrounding circumstances have a fuller impact on Blizzard’s backside line.

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