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- Workplace Tensions Aside, Activision Blizzard Is Making Money
Workplace Tensions Aside, Activision Blizzard Is Making Money
Workplace Tensions Aside, Activision Blizzard Is Making Money
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Activision Blizzard posted a good second-quarter revenue earnings report despite the slew of legal and public relations challenges it faces stemming from its workplace culture. In an earnings call on Tuesday, CEO Bobby Kotick said Q2 revenues were $1.92 billion, slightly above Wall Street's expectations. Activision's share price was down as much as almost 6% earlier in the day, but rebounded in after-hours trading.
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Activision Blizzard CEO Bobby Kotick went on the defense in Tuesday's earnings call with a four-and-a-half minute statement about his commitment to setting things right by Activision employees. The workplace-culture imbroglio predominated the question-and-answer portion of the usually dry earnings call.
In a letter to the company's CEO, Activision Blizzard employees say more accounts of abuse, harassment and mistreatment have emerged since California filed a lawsuit earlier this month against the company. The workers behind the letter also criticized the company's selection of law firm WilmerHale to conduct an internal review, saying the firm "has a history of discouraging workers' rights."
On the same day that Activision Blizzard's CEO defended the company in a call with investors, Blizzard President J. Allen Brack announced his departure. Brack is leaving the Santa Monica-based company "to pursue new opportunities."
Plant Prefab, a Rialto-based prefabricated housing construction company, says it is seeing demand grow for cheaper and greener homes. On Tuesday, it announced it raised an additional $30 million for a third highly automated factory, which it says it will allow the company to cut waste by up to 30% while saving up to 25% on cost and reducing construction times by 20% to 50% compared to traditional building methods.