Ubisoft Trading Halt Raises Concerns Amid Delayed Results

2 months ago

Louise Moon

"Yeah, the French gaming company. So, they're behind games like Assassin's Creed, which obviously very well known. They've delayed their first half financial results, and this was just so they were meant to report today and they delayed them just before they were meant to be released. They haven't said much. They haven't given any reason. They just said they'll publish in the coming days. and they've also asked for trading to be halted in France until those results are published. So, in a memo to staff, they say they were taking extra time to finalize the closing um of the of the first half of these results. Um but this could like so there's already been a lot of concerns around Ubisoft. So, this could escalate those concerns. For example, in May, they said they needed more time to develop some of their big titles, and they forecast that no revenue growth would happen for the full year, and their shares already down 49% this year. And and if you look further back, they're way down um from a peak in 2018, about 93% off that. So, uh we'll be we'll be keeping an eye for when they'll be reporting. Um but as I say, that could escalate concerns and and extend setbacks that they've experienced recently."

Ubisoft (ticker UBI) has halted trading in France as it delays its first-half financial results, promising publication in the coming days. The delay, coupled with severe share price declines of 49% this year and 93% from its 2018 peak, heightens concerns about its revenue growth and execution challenges.