Overnight, Activision Blizzard (ATVI) stock dropped by an estimated 10 percent after their Quarter 3 earning’s report was made public. While the estimated revenue for the company was in-line with their projections of $1.66 billion for the quarter, a drop in monthly active users for the third straight quarter turned out to be a cause for concern for some.
In Q2 of 2018, the monthly active users for Activision’s game, which include major titles such as Overwatch, World of Warcraft, and Call of Duty: Black Ops 4 sat around 352 million. For Q3, the company reported 345 million users, a 2 percent drop despite the release of the aforementioned Call of Duty title which has accrued more than $500 million in sales thus far.
With the holiday season around the corner, Activision predicts their Q4 earnings will reach $3.05 billion, slightly short of the estimated $3.06 billion, according to Reuters.
All of this information comes in light of the recent BlizzCon annual event held last weekend in Los Angeles where the announcement of the upcoming mobile game, Diablo: Immortal was met with a slightly less than ideal reception from the Blizzard community.
At the time of this posting, the company’s stock currently sits at $56.00 per share.
Tim Rizzo is the editor and a reporter for Inven Global. He joined the company back in 2017.