Activision Gains as Goldman Likes Gamemaker's Turnaround Plans
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Analysts are broadly pleased with Activision Blizzard Inc.’s plans for an overhaul this year after a horrific 2018.
Goldman Sachs said the video-game maker’s plan to slash its overall workforce by 8 percent while increasing headcount of developers dedicated to its most popular titles makes sense as it enters 2019 with slower momentum in engagement and in-game monetization. MKM said the changes are particularly urgent, pointing to declining fourth-quarter revenue for the “Call of Duty,” “Overwatch” and “Hearthstone” franchises.