- Activision Blizzard revealed that the release of the long-anticipated sequel of Overwatch, as well as Diablo 4 may be delayed
- The company's shares plummeted by 14% earlier this week
- Despite making $2.07 billion, this was a difficult year for Activision with court claims about workplace mistreatment
Earlier this week, Activision Blizzard revealed that a delay in the release of Diablo 4 and Overwatch 2 may be expected. It wasn't long after the announcement when the company saw its stocks go down.
Overwatch 2, Diablo 4 Delayed, Release Date Remains Unknown
Activision Blizzard revealed that it is planning on releasing a sequel to Overwatch and Diablo 4 back in 2019 during BlizzCon. Since then, the gaming giant hasn't confirmed a solid date for either of the titles. However, fans had their fingers crossed to have at least Overwatch 2 appear at some point during 2022.
All those hopes came crashing down after the company revealed that it is experiencing delays with the release of the two titles. On Tuesday, the company said that it is planning to release “a substantial amount of content” next year. With that in mind, it outlined that it is planning a later launch for Overwatch 2 and Diablo 4 than initially anticipated.
The company acknowledged that both games are long-anticipated and revealed that its teams are working on them. Additionally, Blizzard added that it wants to give its teams more time to complete the production and ensure “creative resources to support the titles after the launch.” Last but not least, the company said that the extra time aims to ensure that the titles are a delight for the fans and “engage with their communities for many years into the future.”
The Company's Stock Plummet
Although Blizzard's decision does sound reasonable, it had an imminent impact on its stock. As a result, Activision Blizzard's shares dropped 14% on Wednesday this week. According to Market Watch, this marked the worst day for the company's stock since November 14, 2008.
Besides the delay regarding Diablo and Overwatch, Activision released its financial results for the third quarter of 2021 earlier this week. During the quarter, the company made some $2.07 billion in revenue.
Despite the revenue, this year has been a difficult one for Activision, in light of the mistreatment allegations against the company. With that in mind, last month, Activision sacked more than 20 employees over workplace misconduct. Additionally, the company's CEO Bobby Kotick unveiled 5 key changes that Activision implemented aiming at improving workplace conditions.