Ubisoft plunges after two recent games fail to deliver

The company blamed a 'sharp downward revision' in the expected revenue from Ghost Recon Breakpoint and 'to a lesser extent' from Tom Clancy’s The Division 2. — Ubisoft

Ubisoft Entertainment SA plunged the most in six years after the poor performance of two recently released videogames forced the company to slash its full-year targets.

The stock fell as much as 29% in Paris after Ubisoft cut its forecast for full-year net bookings to about €1.45bil (RM6.75bil) from previous guidance of €2.19bil (RM10.19bil). The company also slashed projected operating income to between €20mil (RM93.10mil) and €50mil (RM232.77mil), from a previous target of €480mil (RM2.23bil).