Ubisoft Falls Most in 16 Months After Net Bookings Forecast Miss

(Bloomberg) -- Ubisoft Entertainment SA shares fell the most in 16 months on Thursday after the French video game publisher warned bookings in the first fiscal quarter will be lower than analysts’ estimates.

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Net bookings in the current quarter will be about €275 million ($299 million), Ubisoft said after market close on Wednesday. That compares with an average estimate of €376 million among analysts surveyed by Bloomberg.

Ubisoft shares fell 15% to €19.78, the biggest decline since Jan. 12, 2023, as of 10:28 a.m. in Paris.

The company reported adjusted operating income of €401 million in the fiscal year that ended in March and forecast slight growth this year.

Guidance for the current year “is likely to disappoint,” CIC Markets analyst Eric Ravary said in a note. CIC Markets cut its adjusted operating income forecast for the period from €471 million to €412 million.

Ubisoft plans to release two anticipated games, Assassin’s Creed Shadows and Star Wars Outlaws, in the current fiscal year.

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