Activision Blizzard, Inc. - ATVI STOCK NEWS

Activision Blizzard (Nasdaq: ATVI) announced the appointment of Jen Oneal and Mike Ybarra as co-leaders of Blizzard Entertainment, effective immediately. Oneal, an 18-year veteran and former head of Vicarious Visions, and Ybarra, with over 20 years in technology and gaming, will share operational responsibilities. Their leadership focuses on fostering an inclusive workplace and maintaining high game development standards. This change follows the departure of J. Allen Brack, who is leaving to pursue new opportunities.

Activision Blizzard's CEO, Bobby Kotick, acknowledged recent challenges within the company in a letter to employees dated July 27, 2021. He expressed gratitude towards employees who spoke out, emphasizing the need for empathy and a safe work environment. To promote inclusivity, Kotick announced several initiatives including the hiring of additional compliance staff, evaluation of management, and removal of inappropriate in-game content. The company has engaged WilmerHale to review its policies and ensure best practices for a respectful workplace.

This August, Hearthstone^® players will experience United in Stormwind^™, featuring 135 new cards inspired by the Alliance's lore. Players can engage with Questline cards for unique gameplay rewards and introduce Tradeable, Profession Tools, and Mount cards. The United in Stormwind Mega Bundle is available for pre-purchase at $79.99, while the Bundle is priced at $49.99. Additionally, significant updates for Hearthstone Battlegrounds will enhance player customization and experience.

Activision Blizzard (Nasdaq: ATVI) will release its Q2 2021 results after market close on August 3, 2021. A conference call will follow at 1:30 p.m. PT (4:30 p.m. ET), available online and by phone. Pre-registration for the call is encouraged for quick access. The presentation materials will be available on the investor website. The company continues to support community engagement through its video game franchises, aiming to connect players across 190 countries.

Activision Blizzard convened its 2021 Annual Meeting of Shareholders with 86.54% of shares represented. All ten director nominees were re-elected, and PwC was appointed as the independent auditor with 97.13% approval. The Board decided to adjourn the meeting to allow more time for shareholders to vote on executive compensation. Significant changes to CEO compensation include a 50% reduction in base salary and a shift to 95% performance-based pay. The Board urges shareholders to vote 'FOR' the Proposal during the reconvened meeting on June 21, 2021.

Activision Blizzard announced the release of Diablo II: Resurrected, a remaster of the iconic 2000 game set for September 23. This version features 3D graphics, 4K resolution, and remastered audio. Players can switch between modern and classic visuals seamlessly. A multiplayer open beta will occur in August, allowing gamers to test five out of seven character classes. The game will be available on multiple platforms and can be purchased standalone for $39.99 or as part of the Diablo Prime Evil Collection for $59.99, which includes additional content from Diablo III.

The Dark Portal has reopened as World of Warcraft: Burning Crusade Classic launches globally, inviting players to explore the realm of Outland. This expansion revives classic gameplay, allowing players to engage in new adventures with two new races, the blood elves and draenei, and tackle formidable PvE and PvP challenges. Players can also utilize the Dark Portal Pass for quicker leveling. The expansion is included with WoW subscriptions, enhancing the experience with nostalgic features, raids, and character customization options.

Activision introduces a limited-time crossover event for Call of Duty® featuring iconic ’80s franchises Rambo and Die Hard. Players can now engage with new operators, weapons, and themed locations like Nakatomi Plaza in Warzone, Black Ops Cold War, and Call of Duty: Mobile. The update coincides with the Season Three Reloaded release, adding new maps, modes, and Zombies content. With over 100 million players in Warzone and 500 million downloads of Call of Duty: Mobile, this event aims to maintain the franchise's momentum.

Activision Blizzard reported strong first-quarter 2021 results with GAAP net revenues reaching $2.28 billion, up from $1.79 billion in Q1 2020. GAAP EPS improved to $0.79, while non-GAAP EPS rose to $0.98. The company saw significant growth in digital revenues, particularly from the Call of Duty franchise, which recorded a 72% year-over-year revenue increase and achieved a record 150 million MAUs. Following these results, Activision raised its full-year outlook, projecting $8.37 billion in net revenues for 2021. A cash dividend of $0.47 per share was also declared.