Ubisoft Share Price Drops 13.79 Percent, Hits Seven-Year Low
As per Morningstar, this marked a seven-year low for the publisher (February 2016 was the previous lowest). Third-quarter net bookings now target EUR725 Million ($778.8 million) from EUR830 million. Its full-year net bookings guidance was previously up by over 10 percent. That’s been updated to be down by more than 10 percent.
Ubisoft CEO Yves Guillemot said, “We are clearly disappointed by our recent performance. We are facing contrasted market dynamics as the industry continues to shift towards mega-brands and everlasting live games, in the context of worsening economic conditions affecting consumer spending.”
Time will tell where the publisher goes from here, especially with major titles like Just Dance 2023 and Mario + Rabbids Spark of Hope performing below expectations. Stay tuned in the meantime for further updates.
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Related Forum: Gaming Discussion
Source: https://gamingbolt.com/ubisoft-share-price-drops-13-79-percent-hits-seven-year-low
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Comments
FrogPosted:
Runts But Who cares though ? Lol
Ubisoft brought us some amazing games in the past. It would certainly be a shame. But I do think they lost their direction a long time ago. They've brought us classics like Far Cry 2/3, Assassin's Creed 2 and the Rayman series!
FrogPosted:
I really feel they should have chilled on Assassin's Creed and focused on newer ideas. I feel they just went for the cash grab on it year after year... Maybe it came back to bite them eventually
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