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Activision is the most profitable public publisher in the business.

However, the only things making money are Call of Duty and Blizzard business.

Their core publishing hasn't made money in years which drags down their overall performance.  Guitar Hero, Transformers, Blur, Spiderman, etc.

So, if folks stop buying Call of Duty or subs start to fall for WOW then Activision will be in big trouble.