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Ubisoft share price recovering following 27% drop last week

Ubisoft share price recovering following 27% drop last week

Stock in French publishing giant Ubisoft is rebounding after dropping more than a quarter in value on Friday.

The company announced the delay of three games - Watch Dogs Legion, Gods & Monsters and Rainbow Six Quarantine - out of this financial year last week. All three of these titles were announced at E3 2019.

That was on top of two of its releases, The Division 2 and Ghost Recon Breakpoint, not hitting its expectations in terms of revenue.

As a result, Ubisoft cut its financial forecast for the year by 33 per cent, causing its share price to drop 27 per cent from its Thursday closing of €56.10 ($62.24), opening at €40.50 ($44.92) on Friday morning. The Assassin's Creed maker's stock is rebounding, sitting at €48.82 ($51.16) at the time of writing.

Speaking to investors, CEO Yves Guillemot (pictured) said that Breakpoint hadn't hit the mark as it failed to differentiate itself from its predecessor and that it launched too close to the 2017 release. 

"We have not capitalized on the potential of our latest two triple-A releases," he said.

"For Ghost Recon Breakpoint, while the game’s quality appeared on track – based on E3, Gamescom, previews and our latest internal playtests –, critical reception and sales during the game’s first weeks were very disappointing. As we have done with past titles, we will continue to support the game and listen to the community in order to deliver the necessary improvements."


Editor - PC Games Insider

Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he was hired to launch PCGamesInsider.biz for Steel Media before departing the firm in October 2019.

He has also written for GamesIndustry.biz, VGC, Games London, The Observer/Guardian and Esquire UK.

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