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Activision Blizzard Record Results, Layoffs

Activision Blizzard announces fourth quarter and 2016 financial results, calling these both "better-than-expected" and "record." In spite of that, Kotaku reports cuts at Activision Publishing, a division that includes Infinity Ward, Beenox, and Treyarch. Here's word on the financial results:

For the year ended December 31, 2016, Activision Blizzard’s net revenues presented in accordance with Generally Accepted Accounting Principles (“GAAP”) were a record $6.61 billion, as compared with $4.66 billion for 2015, an increase of 42%. GAAP net revenues from digital channels were a record $4.87 billion, growing 94% year-over-year. GAAP operating margin was 21%. GAAP earnings per diluted share were a record $1.28, as compared with $1.19 for 2015, an increase of 8%. On a non-GAAP (redefined) basis, the company’s operating margin was a record 35% and earnings per diluted share were a record $2.18, as compared with $1.30 for 2015, an increase of 68%.

For the quarter ended December 31, 2016, Activision Blizzard’s net revenues presented in accordance with GAAP were an all-time record of $2.01 billion, as compared with $1.35 billion for the fourth quarter of 2015, an increase of 49%. GAAP net revenues from digital channels were an all-time record of $1.45 billion, growing 101% year-over-year. GAAP operating margin for the fourth quarter was 21%. GAAP earnings per diluted share were $0.33, as compared with $0.21 for the fourth quarter of 2015, an increase of 57%. Non-GAAP (redefined) operating margin was a fourth-quarter record 34%. On a non-GAAP (redefined) basis, the company’s earnings per diluted share were an all-time record $0.65, as compared with $0.25 for the fourth quarter of 2015, an increase of 160%.

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30. Re: Activision Blizzard Record Results, Layoffs Feb 11, 2017, 14:11 Stormsinger
 
ViRGE wrote on Feb 11, 2017, 06:38:
They did indeed have a record year in terms of revenue. However their actual profitability was only so-so. The company made $966M on $6.61B, for a profit margin of ~15%. Last year they made just a bit less profit - $892M - on $4.66B in revenue. Which works out to a 19% margin.

Well yeah, when you point that out, it's obvious that they -had- to lay people off. Only a billion dollars of profit, what else could they do?

This kind of thinking (Activision's, not yours personally) is literally going to destroy our civilization. Short term above all is simply not a sustainable plan.
 
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  1. Feb 10, 19:15 Re: Activision Blizzard Record Results, Layoffs Kxmode
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>> 30. Feb 11, 14:11  Re: Activision Blizzard Record Results, Layoffs Stormsinger
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