Are Ubisoft in trouble?

Late on Wednesday, Ubisoft said that it was increasing its writedown estimate to 500 million euros ($538 million) from 400 million and cutting its full-year revenue target after ending 2022 with weaker-than-expected sales. Ubisoft cited the deteriorating economy, marked by lower spending on non-essential goods.

Is Ubisoft in financial trouble?

The company stuck to January's forecast for an operating loss of around 500 million euros in its 2022-23 year. Ubisoft shares are down roughly 25% year-to-date, on top of an almost 40% drop in 2022.

Why is Ubisoft struggling?

For the past few years, Ubisoft has been consistently plagued by internal issues involving alleged misconduct at the highest levels and struggles to grow company sales and live services beyond breadwinners like its “Assassin's Creed” franchise and “Tom Clancy's Rainbow Six Siege.”

What is happening with Ubisoft?

Ubisoft's Project Q has now been reportedly cancelled. The PvP battle arena game was announced less than a year ago in April 2022. They've already delayed Skull and Bones six times now and the recent comments by CEO Yves Guillemot haven't helped.

Why is Ubisoft going under?

Ubisoft shares plunged as much as 21% on Thursday after the French video game maker reduced revenue guidance, cancelled three titles and pushed back the release of its upcoming Skull and Bones game.

What The HELL IS Happening With Ubisoft?

Who will purchase Ubisoft?

Tencent and the Guillemot family will now control up to 29.9 percent of Ubisoft. Tencent can now buy up to 9.99 percent of Ubisoft shares directly. Tencent cannot increase its stake for eight years, cannot sell its shares for five years, and will give the Guillemot family first dibs if it does sell.

Why is Ubisoft removing games?

Ubisoft is shutting down access to multiplayer and DLC for some of its older games, and that shows the need for preservation in the industry.

Is Ubisoft still making games?

Despite its ongoing struggles, Ubisoft continues to focus on producing new entries in its stable of established franchises — Assassin's Creed, Tom Clancy, and Far Cry, to name a few — while intermittently experimenting with new franchises like Immortals Fenyx Rising and Riders Republic.

Will Ubisoft back to Steam?

Ubisoft games is returning to Steam after a three-year absence, beginning with the upcoming release of Assassin's Creed Valhalla on the storefront.

Is Ubisoft doing well?

With the industry seeing increased consolidation, Ubisoft is viewed by analysts as a potential takeover target. Its share price sank more than 38% in 2022, erasing 3 billion euros from the company's market value. Meanwhile, internal scandals have also haunted the company.

Is Ubisoft worth investing?

11 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Ubisoft Entertainment in the last year. There are currently 2 sell ratings, 6 hold ratings and 3 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" UBSFY shares.

Why are people upset with Ubisoft?

In allegations against Maxime Beland, one of the co-founders of Ubisoft Toronto, a female employee claimed he strangled her at a work party. The allegation was just the start of a movement that Ubisoft activists refer to as a toxic culture.

Is Ubisoft undervalued?

Of the 51 video game stocks in this index, only six are covered by Morningstar analysts, and all of these were undervalued as of 2 February 2023. The most undervalued video game stock is Ubisoft, an entertainment developer, trading at a 46% discount to Morningstar's fair value estimate.

Is Ubisoft a Russian company?

Ubisoft Entertainment SA is a French company specializing in the development and publishing of computer games.

What game makes Ubisoft the most money?

According to Ubisoft, AC Valhalla has topped $1 billion in revenue, which makes it the highest-earning Assassin's Creed game in series history.

Is Ubisoft removing games from Steam?

And Anno 1800 is actually coming back to Steam after previously having been removed — it's from 2019. But it's no secret that Ubisoft pulled games from Steam to make them exclusive to the Epic Games Store instead, which famously gave publishers millions to attract games to that rival platform.

What games did Ubisoft cancel?

Ubisoft has not had the best press lately with the French games giant confirming the cancellation of three unannounced projects, delaying Skull & Bones, and one of its offices calling for strike action over recent remarks made by CEO Yves Guillemot today.

Why are people leaving Ubisoft?

Interviews with a dozen current and former Ubisoft developers cite a range of factors for the departures, including low pay, an abundance of competitive opportunities, frustration at the company's creative direction, and unease at Ubisoft's handling of a workplace misconduct scandal that flared in mid-2020.

Is Ubisoft deleting Assassins Creed?

Beyond just being removed from sale, however, "this title will not be accessible following September 1, 2022", a second notice adds. Ubisoft is making a precedent on Steam as Assassin's Creed Liberation HD will not be accessible following September 1st, 2022. Even if you already bought it, a bar new low for consumers.

Why is Ubisoft controversial?

Ubisoft CEO Yves Guillemot has sparked controversy by saying that "you need a little friction" to make videogames, a remark that's caused backlash because of the company's well-known problems with toxicity and abusiveness in the workplace.

Could Ubisoft be acquired?

An uncertain future

Given that Tencent has already displayed strong interest in Ubisoft's portfolio, it's therefore possible that it could acquire the company as it continues its expansion overseas. We listed Tencent as one of the top 50 mobile game makers of 2022. Tags: Acquisition.

Is Ubisoft owned by China?

Ubisoft today announced a partnership between Tencent and Guillemot Brothers Limited that will see the Chinese tech firm indirectly increase its stake in the publisher. Tencent is investing €300 million ($297 million) into GBL for a 49.9% stake in the company, which owned almost 13% of Ubisoft shares before this deal.