Ubisoft shares plunged 33% on Thursday morning after the maker of the “Assassin’s Creed” videogames announced a major organisational shakeup and axed six games.
The company said it expected to make an operating loss of around 1 billion euros ($1.17 billion) in the financial year ending 2026, following a 650 million euro write down caused by the restructure.
“The portfolio refocus will have a significant impact on the Group’s short term financial trajectory, particularly in fiscal years 2026 and 2027, but this reset will strengthen the Group and enable it to renew with sustainable growth and robust cash generation,” Yves Guillemot, Founder and CEO of Ubisoft, said in a statement on Wednesday evening.
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