Ubisoft shares fall after Assassin’s Creed maker warns of further losses to come
Ubisoft shares fell sharply before regaining some ground on Thursday after the Assassin’s Creed maker warned it expects further losses this year.
The French game maker posted an operating loss of 1.3 billion euros ($1.5 billion) in its 2026 financial year. Net bookings came in at 1.5 billion euros, a drop of 17.4% from the previous year.
Its shares closed 2.2% lower on Thursday, after clocking losses of almost 20% earlier in the session.
Ubisoft said it expects full-year net bookings to decline by a high single-digit percentage with a single-digit operating loss margin.
The stock has fallen around 26% in the year-to-date.
The move comes after years of stock price declines for the game developer following the Covid-19 pandemic, delays to major releases and financial struggles. Shares in the company fell 34% in January after the company announced a major restructuring.
The upcoming financial year is “expected to represent a low point in our free cash flow trajectory along with a softer release slate and restructuring costs,” CEO and Cofounder Yves Guillemot said in a Wednesday statement.
“This two-year transformation comes with difficult decisions and a disappointing short-term financial performance, but I firmly believe that, together, these actions are better positioning Ubisoft to deliver sustainable free cash flow over time,” he added.
— CNBC’s Joseph Wilkins also contributed to this report.
Ubisoft shares in the year-to-date.
As part of the restructuring, Ubisoft has discontinued seven projects and delayed six others, the company said.
Its fixed cost base is a core priority and its initial cost reduction program was achieved one year ahead of schedule, the company added. Fixed costs stood at 1.4 billion euros in 2026. Ubisoft is looking to shave nearly 200 million euros more off its cost base by March 2028.
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