As reported by Venturebeat, Activision Blizzard’s net income for the fourth quarter of 2021 is below expectations at $2.49 billion. Compared to last year, the company earned 18 percent less. The main reason for this is the lack of success of Call of Duty: Vanguard. However, this was partially compensated for by the “star” of the last financial year: the mobile games department with King was able to show growth of 18 percent compared to the previous year and was responsible for a third of the total revenue for the fourth quarter.
In addition to these poor sales, Activision Blizzard has also had to deal with massive internal problems. The California Department of Justice for Fair Employment and Housing sued the studio last summer, among other things, over multiple incidents of sexual harassment. At the same time, several employees denounced the conditions within the company, some even went on strike and demanded the resignation of CEO Bobby Kotick – especially after the Wall Street Journal found out that Kotick had known about some allegations for a long time and was not doing enough about it. This hurt the company again and sent the share price on an even steeper descent. Activision Blizzard’s wild ride ended in a $70 billion takeover deal from Microsoft.