Ubisoft shares fell by 27.8% after a decrease in expected revenue of €735 million
Last Thursday, Ubisoft announced that it will earn much less for the current fiscal year than previously expected. Instead of €2.1 billion, its revenue will be €1.4 billion. This news significantly affected the value of the company’s shares.
If on October 24, €56.1 was given for one paper, then on Friday trading began with €40.5 per share. However, at the moment the company is fighting back its previous positions. At the time of writing, the shares reached €50.6.
The adjustment of the forecast for the current fiscal year, which will end for Ubisoft on March 31, was related to:
- very low sales Ghost Recon Breakpoint;
- low sales of The Division 2;
- postponing the release of Gods & Monsters, Rainbow Six Quarantine and Watch_Dogs Legion for the next fiscal year.
Ubisoft loses a lot in value on the stock market not for the first time during the reporting period. In May, after the publication of the report for the last financial year, the company lost 12% of its value (from €82.5 to €72.6). Then, already in September, after the release of Ghost Recon Breakpoint, Ubisoft quotes kept going down (from €73.2 to €57).
Also on the topic:
