PARIS : Ubisoft is increasing its writedown estimate to 500 million euros ($538 million) and cutting its full-year revenue target after ending 2022 with weaker-than-expected sales, the French video game maker said on Wednesday. Ubisoft cited the deteriorating economy, marked by lower spending on non-essen
PARIS : Ubisoft is increasing its writedown estimate to 500 million euros and cutting its full-year revenue target after ending 2022 with weaker-than-expected sales, the French video game maker said on Wednesday.
The group is also postponing the release of its game"Skull and Bones", and plans cost cuts of 200 million euros over two years, including for staff reduction, Chief Financial Officer Frederick Duguet said in a call with reporters. Net bookings in the third quarter are now expected at 725 million euros, down from a previous estimate of 830 million euros. Ubisoft's fiscal year ends on March 31."The biggest brands took a larger-than-expected market share, which led to less spending on other games," Duguet added.
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French video game maker Ubisoft increases writedowns, lowers targets on weak salesPARIS :Ubisoft is increasing expected writedowns to 500 million euros ($538 million) and is cutting its full-year revenue target on weaker-than-than expected sales at the end of 2022, the French video game maker said on Wednesday. Ubisoft cited the deterioration of the economic environment, marked by lower sp
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