Why Did Ubisoft's Shares Take a Nosedive?

Ubisoft announced the closure of studios in Halifax and Stockholm, restructuring in Abu Dhabi, Helsinki, and Malmö, and the cancellation of six games, resulting in a 33 percent drop in share price. The company projected an operating loss of 1 billion euros for the fiscal year ending 2026, following a 650 million euro write-down. Ubisoft plans to cut costs by 500 million euros by March 2028 and reduce fixed costs from 1.75 billion euros to 1.25 billion euros. The company is considering asset sales and revised its net bookings forecast for 2026 to 1.5 billion euros, down 330 million euros from previous guidance.Learn more on this news by visiting us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.