How Bobby Kotick Is Ensuring Activision Blizzard Changes For The Better

I am pleased to update you on the progress we made during our annual meeting of shareholders and our commitments to our players, employees, and shareholders.

Our top priority is to deliver the most fun, engaging, and highest quality player experience in our games. Our talented teams are focused on creating the best possible game worlds for our players and innovating to set new industry standards.

We continue to progress against our strategic priorities, including Activision Blizzard’s direct-to-consumer initiative, which is off to a strong start with the successful launch of Activision Blizzard’s inaugural mobile game, Activision Blizzard’s Diablo Immortal.

We remain focused on creating long-term value for our shareholders and are committed to returning excess cash through share buybacks and dividends. We returned over $1.5 billion in dividends in the past year and repurchased over $1 billion in Activision Blizzard common stock. In addition, we have repurchased almost 99 million shares of Activision Blizzard stock at an average price of roughly $47 a share, including a recent purchase in January 2019. As a result, we bought back 17 million Activision Blizzard shares for approximately $358 million.

We also continue to progress our margin improvement initiatives, which are designed to increase our operating margins and create a more resilient business. We expect these initiatives to drive increased profitability and cash flow in the years ahead. In addition, we remain committed to investing in high-quality game development and new business opportunities.

We are pleased with the results of our annual meeting of shareholders, where we held what is believed to be the world’s first virtual stockholders meeting. Shareholders were able to join an interactive webcast that presented shareholder questions on various topics related to Activision Blizzard’s business and interact with our management team.

In summary, we continue to progress against our strategic priorities and are committed to returning excess cash to shareholders. Our focus on creating the best possible player experience and commitment to returning cash to shareholders will drive increased profitability and value for our shareholders in the years ahead. Continue reading article here

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