Ubisoft shares plummet as it guides for further cash burn
(Reuters) -Shares in video game maker Ubisoft dropped heavily on Thursday after the French game developer guided for this year's cash generation to remain negative, while expecting its operating income at a breakeven.
The company, which is behind the Assassin's Creed franchise, reported on Wednesday a 20.5% drop in its full-year 2024-2025 net bookings due to delayed releases and the underperformance of some of its leading titles.
Ubisoft shares were down about 20.5% by 0720 GMT at 9.28 euros, heading for their biggest single-day drop in more than 11 years.
(Reporting by Piotr Lipinski; Editing by Jan Harvey)
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