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Finance

Ubisoft shares plummet after guidance tweak

Fri 23 Jan 2009 8:52am GMT / 3:52am EST / 12:52am PST
Finance

Company value drops 19% after publisher opts for cautious approach on numbers

Ubisoft's share price opened significantly down this morning after it released its third fiscal quarter results last night.

The publisher tweaked its guidance down slightly, to an expectation of between EUR 1,040 million and EUR 1060 million for full year revenues, due to the additional promotion and a prudent approach.

But investors have reacted badly in early morning trading, with Ubisoft stock 19 per cent lower in value at the time of writing than when the market closed yesterday, at EUR 10.53.

It follows bad news from Sony, Microsoft and THQ yesterday, who also all saw stock slumps. Activision Blizzard reports its full year results on February 11.

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