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Ubisoft Sinks After Slower Game Production Pushes Back Growth
Visitors test play Assassin's Creed Shadows at the Ubisoft Quebec Studio in March.
Photographer: Andrej Ivanov/AFP/Getty Images
Ubisoft Entertainment SA shares sank as much as 23% after the video-game maker forecast flat sales for the fiscal year and said some of its biggest games will get more development time.
Bookings, a measure of sales, dropped about 20% to €1.85 billion ($2.07 billion) in the fiscal year that ended in March, the company said in a statement on Wednesday. That missed the average analyst estimate of €1.89 billion, according to data compiled by Bloomberg.