Ubisoft shares plummet as it guides for further cash burn
FILE PHOTO: The logo of Ubisoft is seen in Montreuil, near Paris, France, July 13, 2020. REUTERS/Charles Platiau/File Photo
Shares in video game maker Ubisoft dropped heavily on Thursday after the French game developer guided for this year's cash generation to remain negative, while expecting its operating income at a breakeven.
The company, which is behind the Assassin's Creed franchise, reported on Wednesday a 20.5 per cent drop in its full-year 2024-2025 net bookings due to delayed releases and the underperformance of some of its leading titles.
Ubisoft shares were down about 20.5 per cent by 0720 GMT at 9.28 euros, heading for their biggest single-day drop in more than 11 years.
Source: Reuters
