Ubisoft shares plummet 33% after Assassin's Creed maker unveils reorganization, cancels six games [CNBC]
UBISOFT ENTMT UNSP/ADR (UBSFY)
NASDAQ:AMEX Investor Relations:
ubisoft.com/en-us/company/investor_center/index.aspx
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Source: CNBC
The company said it expects to make an operating loss of around 1 billion euros ($1.17 billion) in the financial year ending 2026. The drop follows years of decline for the company, which makes the “Assassin's Creed” videogames. Ubisoft shares plunged 33% on Thursday morning after the maker of the “Assassin's Creed” games announced a major organisational shakeup, alongside plans to shut studios and axe six games. The changes come following years of stock price decline, following the Covid-19 pandemic, after delays to major releases and financial struggles The company said it expected to make an operating loss of around 1 billion euros ($1.17 billion) in the financial year ending 2026, following a 650 million euro write-down caused by the restructure. It would consider selling assets, Ubisoft said in a statement on Wednesday evening. “Today's market environment requires that the Group step-changes how it is organized and operates,” Yves Guillemot, Founder and CEO of Ubisoft,
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