Instead of making all the money, Activision only made very close to all the money, and that has disappointed investors.
Activision generally had a great financial report today—the company earned more money than analysts had projected, with revenue being in line with what had been estimated. They announced that while Destiny 2: Forsaken has failed to meet their own expectations, Call of Duty: Black Ops 4 is doing very well for itself.
However, it seems like investors were not impressed because, as Yahoo Finance reports, Activision’s stock fell by 10% in the After Market. Being blamed for this decline is Activision’s weak guidance, as well as investors not being happy with how Black Ops 4 is doing (a game that, I may remind you, made $500 million in three days). Indeed, Activision’s monthly average users across their products are down 7 million, from 352 million to 345 million, quarter on quarter, which is giving investors reason to believe that Black Ops 4 did not have the intended effect.
Honestly, I don’t know how a game that made $500 million in three days could possibly disappoint anyone, but investors aren’t always the most rational actors, so who knows. Call of Duty: Black Ops 4 is out now on PS4, Xbox One, and PC, as is Destiny 2: Forsaken.