Ubisoft Shares Surge As Trading Resumes After Results 'Restatement' [Barron's]
UBISOFT ENTMT UNSP/ADR (UBSFY)
NASDAQ:AMEX Investor Relations:
ubisoft.com/en-us/company/investor_center/index.aspx
Company Research
Source: Barrons
The move, accompanied by a share suspension, had triggered much speculation in the video gaming world, including on a possible takeover operation in a consolidating industry. Advertisement - Scroll to Continue But it was actually, the company said Friday, due to a simple "restatement" of its half-yearly results after new auditors found problems with the way Ubisoft had accounted for a partnership. "This is why we needed more time," finance director Frederick Duguet told a conference call. Ubisoft's stock was quoted 11.5 percent higher at 7.55 euros in morning business on Paris stock exchange as investors breathed a sigh of relief. The shares are, however, still quoted more than 40 percent lower than a year ago. Advertisement - Scroll to Continue The French publisher is one of the largest video game companies in the world, with some 17,000 employees. Its catalogue includes "Assassin's Creed," "Far Cry," and "Just Dance." It also said Friday that a "strategic" agreement
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