Activision, one of the biggest and most well-known gaming corporations with the Call of Duty franchise, Diablo, Overwatch, and ownership of King (the studio behind Candy Crush), has now lost its spot as the most valuable gaming company in the United States of America after a sudden surge in the share prices of Roblox.
Activision takes a tumble, Roblox becomes most valuable gaming company
Currently, Activision has a market cap of about $52 billion. However, Roblox shares saw a 42% jump after the release of its Q3 and October Earnings Report, raising its market cap to $62 billion and putting it in the first position. Activision, on the other hand, had a bad tumble in stock prices after they announced a delay in the release of Overwatch 2 and Diablo 4.
We are happy to report that the developer community earned over $130 million in the quarter and is on pace to earn well over $500 millionthis year. As we finish 2021 and head into 2022, we will continue to invest in innovative technology to enable our developer community to do what they do best – build and create.
David Baszucki, CEO, Roblox
Meanwhile, Roblox’s recent success comes in spite of a recent major server outage that lasted for 3 days and prevented millions of players from playing games on Roblox. Activision Blizzard also faced other issues earlier due to the ongoing investigations into sexual harassment and discrimination that have affected the game’s public appearance.
David Baszucki, the CEO of Roblox said: “Engagement is our north star. We’re very pleased that during the third quarter, people of all ages from across the globe chose to spend over 11 billion hours on Roblox.”
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