After reviewing Activision Blizzard finances, what advice on buy/sell would you give to possible investors?

ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Amounts in millions, except share data) At December 31, 2016 At December 3M 2015 Assets Current assets: Cash and cash equivalents nts receivable, net of allowances of $261 and $343.at December 31,2016 and December 31,2015, respectively Inventories, net Software development Other current assets 679 392 4.830 3,387 Total current assets Cash in escrow Software development Property and equipment, net Deferred income taxes, net Other assets Intangible assets, net Goodwill 54 258 283 401 1,858 9.768 17452 189 482 7,095 15.246 Total assets Liabilities and Shareholders' Equity Current liabilities: 222 $ nts payable Deferred revenues 1,628 806 2.656 4,887 1,702 625 2,611 4,074 ccrued expenses and other liabilities Total current liabilities Long-term debt. net Deferred income taxes, net Other liabilities 746 483 8,333 7,178 Total liabilities Commitments and contingencies (Note 19) Shareholders' equity: Common stock. $0.000001 par value, 2,400.000,000 shares authorized, 1,174,163,069 and 1.163,179,140 shares issued December 31,2016 and December 31, 2015, respectively at Additional paid-in capital 10,442 10,242 s: Treasury stock, at cost, 428,676,471 shares at December 31,2016 and December 31, 2015 (5,563) 4869 (629) 9,119 17452 S (5,637) 4,096 (633 8,068 15 246 Retained earnings ccumulated other comprehensive loss Total shareholders' equity otal liabilities and shareholders' equity The accompanying notes are an integral part of these Consolidated Financial Statements. F-3 Contents ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (Amounts in millions, except per share data) For the Years Eaded December 3 2018 2016 2014 Net revenues Product sales Subscription, licensing, and other revenues 2,196 2.447 $ 2,786 1,412 6,608 4,6644.408 2,217 1622 Total net revenues Costs and expenses Cost of revenues- product sales: 741 331 872 370 981 265 Product costs Software royalties, amortization, and intellectual property licenses Cost of revenues-subscription, licensing, and other revenues 250 29 571 274 69 646 1,210 734 712 380 196 3,345 3,225 851 471 958 Game operations and distribution costs Software royalties, amortization, and intellectual property licenses Product development Sales and marketing 417 634 General and administrative 5, tal costs and expenses Operating income Interest and other expense (income), net 1412 1,319 198 202 Loss on extinguishment of debt Income before income tax expense Income tax expense 214 92 1,106 140 1,121 981 229 146 S 966 S 82 835 Net income Earnings per common share Basic Diluted $ 1.28 $ 1.19 1.13 Weighted-average number of shares outstanding Basic Diluted 740 754 728 739 716 726 Dividends per common share s 0.26 $ 0.23 $ 0.20 The accompanying notes are an integral part of these Consolidated Financial Statements. F-4 Contents ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Amounts in millions) For the Years Ended December 31 2015 $ 966 892 S 835 2016 2014 Net income Other comprehensive income (loss) (29) (326) (371) Foreign currency translation adjustments Unrealized gains (losses) on forward contracts designated as hedges, net of tax Total other comprehensive income (loss) Comprehensive income $ 4 S (330) S (371 S 970 562 S 464 The accompanying notes are an integral part of these Consolidated Financial Statements F-5