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Activision Blizzard Stock Price Increases, Thanks to “Call of Duty”

Activision Blizzard’s stock price increased after the company on Tuesday after the game studio reported their quarterly results. The forecasts came as a shock to the Wall Street, since a major chunk of their profit came from the renowned “Call of Duty ” franchise.

The company is looking forward to applying the successful Call of Duty formula to some of its other titles. On Tuesday, Activision Blizzard started off with -2.70% and surged 6% at the end of the day, closing in at $88.69.

According to the statement made by Activision Blizzard, the “Call of Duty” series resulted in a 72% year over year gain and brought the revenue of Activision to somewhere around $891.

Our strategy centers around our long-held view that wholly-owned entertainment franchises offer the opportunity for limitless innovation. Call of Duty is the template we’re applying to our proven franchise as well as our new potential franchise as we attempt to grow our audiences to 1 billion players.

-Bobby Kotick, Activision Blizzard’s chief executive

Activision Blizzard stock price increases thanks to "Call of Duty"

The franchise has a loyal fanbase on all major platforms including PC, Xbox, and Playstation. The most famous games include Black Ops Cold War and Modern Warfare, with the recent Warzone gaining massive popularity in the battle royale niche. It is interesting to note that all these games are also available on iOS as well as Android.

We believe our franchises absolutely have to be accessible wherever the players are and that obviously includes mobile, not only in developed countries but even more so in developing countries. And mobile is just the ultimate driver of reach with almost 3 billion smartphones worldwide and that’s forecasted to increase to 4 billion in the next five years.

– Daniel Alegre, Activision Blizzard President and Chief Operating Officer

Activision Blizzard expects to record more profit in the next quarter, but we will have to wait how it goes.

Source
marketwatch

Anurag

Hi, I am Anurag Chawake, a passionate writer from New Delhi, India. I enjoy writing on topics such as general news, technology, and gaming. When I am not working, you can find me playing video games.

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