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Tuesday, April 16, 2024
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Activision Blizzard Revenue Hits $2B Amid Attempts to Reform Company Culture

  • Activision Blizzard posted revenue of $2.07 billion in the third quarter.
  • The company is weathering a harassment and toxic workplace scandal.
Invision for Activision/Design: Alex Brooks

Activision Blizzard remains one of the top-earning game makers in the U.S. as it seeks to reform its company culture.

The company saw revenue grow to $2.07 billion in the third quarter, up 5.9% year-over-year.

Product sales accounted for only $423 million of that sum, with the rest coming mainly from in-game purchases and subscriptions.

Activision Blizzard saw strong growth from its King and Blizzard segments, whose revenues respectively rose 22% and 20% year-over-year. King is known for “Candy Crush” while Blizzard makes “Diablo” and “World of Warcraft.”

The company is still handling a scandal that went public when the California Department of Fair Employment and Housing filed a lawsuit against Activision Blizzard alleging it ignored claims of sexual harassment, discrimination, and retaliation.

  • Activision Blizzard said more than 20 employees “have exited the company” following an investigation.
  • The company pledged $250 million over the next 10 years in “initiatives that foster expanded opportunities in gaming and technology for under-represented communities.”
  • In September, Activision Blizzard reached a settlement with the U.S. Equal Employment Opportunity Commission, which included the creation of an $18 million settlement fund for those who experienced harassment or discrimination at the company.

Last week, CEO Bobby Kotick asked the board to reduce his salary to the state minimum for salaried workers, $62,500, and pledged to forgo bonuses and equity grants.

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