• Ubisoft’s shares have dropped 20% after the company announced the delay of its game “Skull and Bones” and the cancellation of three other projects.
• The delayed game, unannounced game cancellations, and disappointing sales all contributed to the bad news.
• The company also plans to “depreciate around €500m of capitalized R&D” as a result.
Ubisoft, a French video game publisher, has seen its shares plummet 20% after the company released some bad news. The company announced the delay of its game “Skull and Bones” and the cancellation of three other projects. The game, which was due for release on the 9th of March, will now have no specific date and is expected to launch anytime between April 2023 to March 2024.
As a result of the bad news, the company also plans to “depreciate around €500m of capitalized R&D”. The three projects that have been canceled are yet to be named by Ubisoft. This is in addition to the disappointing sales figures seen by the company which have further contributed to the declining share price.
The postponement of the Skull and Bones game is a major setback for the company and its shareholders. This is due to the huge amount of resources that have been invested in the game. Ubisoft will now have to focus on their existing brands and live services in order to make up for the losses.
The French video game publisher has seen a lot of success in recent years, but the latest news has been a major blow. It remains to be seen how the company will recover and if the share price will stabilize. For now, it looks like the company is in for a rocky period ahead.