Activision shared jumped almost 20% today before ending 16.9% higher at the close of business. The jump occurred thanks to fourth-quarter revenue jumping 49% to over $2 billion. Net income jumped 60% to $254 million.
On the other end of the spectrum, employees of the publisher and some of its development teams haven’t fared so well. Cuts have been taking place at the corporate office, Infinity Ward and Beenox plus others.
According to figures, approximately 5% of the Activision Publishing business were affected. Infinity Ward is known for its Call of Duty series and saw about 20 staff laid off while Beenox has been behind Spider-Man and Skylanders apparently closed its in-house QA department altogether. Blizzard and Major League Gaming were not impacted by this round of layoffs.
In a statement, an Activision representative commented
Activision Publishing is realigning our resources to support our upcoming slate and adapt to the accelerating transition to digital, including opportunities for digital add-on content
We are sure that the peace of mind those affected by layoffs helps, knowing they made execs and shareholders happier and richer.
On a more serious note, we wish all those that were affected all the best in their future endeavours.