Breaking News
Ubisoft Shares Sink to Decade Low After ‘Assassin’s Creed’ Delay
March 17, 2023 – Paris, France
In a shocking turn of events, Ubisoft’s stock price plummeted to its lowest level in over a decade following the announcement that the next installment in the beloved Assassin’s Creed franchise has been delayed. The news sent shockwaves through the gaming industry and financial markets, leaving investors and fans alike reeling.
Breaking News Update
As of 9:00 AM CET, Ubisoft’s shares have dropped by a staggering 14.5%, wiping out approximately €3.2 billion in market value. The company’s stock has been on a downward trajectory for months, but this latest development has sent the value plummeting to its lowest point in over 10 years.
Why the Delay?
Ubisoft cited the need for "additional time to polish and refine" the game as the reason for the delay. Industry insiders claim that the delay is largely due to concerns over the game’s multiplayer component, which has reportedly been plagued by bugs and connectivity issues.
Market Reaction
Analysts and investors are reeling from the news, with some predicting that the delay will have a lasting impact on Ubisoft’s financial performance. "This is a massive blow to Ubisoft’s financials," said Jean-Philippe Couture, a leading gaming analyst. "The company’s inability to deliver on its most anticipated title is a clear indication of internal issues."
Assassin’s Creed Fans Left in the Lurch
Meanwhile, fans of the Assassin’s Creed series are expressing their frustration and disappointment on social media. "Can’t believe they’re delaying the next Assassin’s Creed game. I was really looking forward to playing it," said one disgruntled gamer.
Conclusion
Ubisoft’s stock price freefall has sent shockwaves through the gaming industry and financial markets. The company’s failure to deliver on its most anticipated title has left fans and investors reeling. As the search for answers continues, one thing is clear: Ubisoft’s credibility and financial well-being hang in the balance.
Related News Articles
- Assassin’s Creed Delay Sparks Concerns Over Ubisoft’s Future
- Ubisoft’s Financial Woes: What’s Going Wrong?
- Assassin’s Creed Fans Unite: "#JusticeForAC" Campaign Gains Momentum
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Ubisoft Entertainment SA shares fell to their lowest in more than a decade after the French video game company cut its outlook on weaker-than-expected sales and delayed the hotly anticipated Assassin’s Creed Shadows.
Shares fell 19% to €9.25 at 10:27 a.m. in Paris on Thursday, the lowest since November 2013.
While Assassin’s Creed Shadows is “feature complete,” it will now debut Feb. 14 2025, the company said in a statement on Wednesday. The game was initially planned for November. The company said it needed more time to improve the game after its recent Star Wars release had underperformed.
Ubisoft has over the past couple of years struggled to recover from a pandemic-era production crunch that resulted in delays in the release of new games and canceled titles. Pushing back the latest Assassin’s Creed title means it skips the lucrative holiday period.
Ubisoft said it now expects bookings of €1.95 billion ($2.2 billion) in fiscal 2025, which ends in March. Analysts were expecting €2.42 billion, on average, according to a Bloomberg survey.
Net bookings in the fiscal second quarter are now projected to be €350 million to €370 million, the company said. It previously forecast about €550 million.
The revised targets are mainly a reflection of decisions taken for Assassin’s Creed Shadows and the softer-than-expected launch for Star Wars Outlaws,” Ubisoft said.
Star Wars received middling reviews after its August launch. Ubisoft said it would strive to avoid similar mistakes with Assassin’s Creed Shadows ahead of the holiday season.
“This will enable the biggest entry in the franchise to fully deliver on its ambition,” according to Ubisoft. Unlike prior entries in the Assassin’s Creed series, the upcoming title will not include a Season Pass, which supplied new content in exchange for an added fee.
The latest guidance miss is Ubisoft’s fifth in six years, said analysts Doug Creutz and Mei Lun Quach from TD Cowen. The board has not held management accountable for “repeated failures in a way that serves the interest of external shareholders,” they added.
“Ubisoft has both high-quality game IP and talented developers; despite that, the last six years have been an almost non-stop parade of game delays, followed by game launches that are still undercooked, as well as misallocation of capital to games that probably never should have been green-lit in the first place,” they said.
https://finance.yahoo.com/news/ubisoft-shares-sink-decade-low-083010524.html
View info-news.info by PunishedRichard
Glad I shorted this yesterday
Shit company
I love how companies still use ‘pandemic-era’ issues… its not like covid messes with quality lol.
Bring back independent game studios
Nowadays a dev costs 60/80k euros (maybe double for the Canada people), so If you release bad games after bad games you’re done quickly. 3 years and they will file for bk without a change at best lel.
Im not sure if a french company can lay off 30%/50% of their workers, that is also a way to continue running your business for a few more years hoping to release a banger that make money