The company also rallies after the quarterly financial report is published.
You will probably find it really, but stock market investing is linked to big emotions – the price of securities is not just dictated by the company's results, but also the confidence of its clients and investors. Not a big surprise, therefore, that the shares of Activision Blizzard recorded a significant drop (7%) after that Diablo Immortal Presentationto which players reacted, mildly, negatively. Sales have caused significant storms among stock market analysts who expected an inverted response to the presentation of the new title. Their expectations were not groundless – according to Bloomberg's report, Diablo Immortal has the opportunity to win the Chinese mobile gaming market and earn $ 300 million a year.
In any case, the disappointment caused by the presentation of a cell phone was not good for Blizzard, which analysts of Cowen & Company wrote with their notes to investors such as:
[Blizzard] strongly misunderstood in the topic of fans' reaction to a new title, which may indicate that the company does not listen to the voice of its customers as it should.
After falling for the launch of the new Diablo, I was looking forward to the quarterly financial report of the company. additionally The Powerful Beginning of Black Ops 4 and The Battle for Azeroth's Successes combined with an ever-growing Hearthstone database or mobile headlines (such as the Candy Crush Saga), had the opportunity to stabilize stock charts and reduce the effects of intimidated Diablo Immortal announcements. Finally, the release of the report deepened by an additional 12 percentage points since the company's financial results were not comparable to the expectations of analysts who were expected to increase dividend on shares by 50 cents compared to 37 cents for the same period last year. The increase was correct, but the profit on each paper was 42 cents. The company also recorded a drop in revenues of $ 1.62 to $ 1.51 billion.