Activision Blizzard has lowered expectations for the fourth quarter of 2021, with share prices plummeting by 11 per cent after it announced the grim forecast.
In the midst of lawsuits for sexual harassment and discrimination, the company has also delayed two of its most anticipated games, Diablo IV and Overwatch 2, both guaranteed earners for the gaming giant.
“We looked at what was left in the final phases of production with fresh eyes, and we saw that allowing the teams more time would make for better games and give Blizzard a chance to further expand both teams,” CEO Mike Ybarra said in a conference call yesterday.
The company readjusted its forecast to US$2.78 billion for the December quarter, with previous Wall Street estimates being in the ballpark of US$2.95 billion.
In addition, the company announced that Jen Oneal will step down as co-head of Blizzard, after taking on the role in August.
