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On January 11, 2023 Ubisoft announced it is lowering its revenue target for the third quarter FY 23 ending 12/31/22. The initial target of €830 million has been lowered to €725 million. The company also announced a new strategic focus that included the cancellation of three unannounced projects and another delay for Skull and Bones.
It is no secret that Ubisoft (UBI.PA) has been a me…..
It is no secret that Ubisoft (UBI.PA) has had a rough few years. In 2022, the stock price was down almost 40%. However, the decline had started well before. Ubisoft’s market value has lost about 73% since its peak in mid-2018.
Ubisoft has quite a few projects in the works and they need them to do well. Skull & Bones is a much delayed game that is scheduled for release this March. Avatar: Frontiers of Pandora is an open-work game set in the universe o…..
For the first half of fiscal 2023 which ended 9/30/2022, Ubisoft reported net bookings of €700 million, down 2.6% over fiscal 2022, but higher than targeted. Unfortunately, the company reported an operating loss of €139 million versus an operating income of €44 million for the previous year’s first half.
Ubisoft struggled with product delays and development pipeline issues before COVID. Three years ago this time, Ubisoft suffered a major hit wh…..