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Welcome back, my friends: It’s time for another Activision-Blizzard investor report, and we’re expecting this one to be a ride. Readers will recall that it’s been a wild couple of years for the company as 2019 saw mass layoffs, the Blitzchung boycott, a weak BlizzCon, and plunging YOY revenues for five straight quarters in May 2019, August 2019, November 2019, February 2020, and May 2020. Q1 2020’s revenue drop was very slight and close to flattening, and then in Q2, YOY revenues for the company were up for the first time in six quarters thanks to COVID-19 lockdowns. Q3 saw those revenues hold steady, while Q4 saw revenues up 17%, suggesting the company had finally turned a real corner, despite pretending to investors everything was fine the whole time.

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