Ubisoft Shares Plunge 20%, Company Incurs €500m Losses

Bulletpoints:
• Ubisoft shares plunged 20% due to the cancellation of three games and the delay of the Skull and Bones game.
• The cancelled games and the delay of Skull and Bones game have caused the company to incur €500m of capitalized R&D depreciation.
• Ubisoft plans to focus on its existing brands and live services in order to make up for the losses.

Ubisoft, a French video game publisher, has recently seen its shares plummet by 20%, after the company announced some bad news. The most notable announcement was the delay of the game Skull and Bones, which was originally scheduled for release on the 9th of March. With no specific date fixed, the company expects the game to launch between April 2023 and March 2024.

In addition to the delay of the game, Ubisoft also announced the cancellation of three other projects, citing their need to focus on their existing brands and live services. This news was met with dismay, as the three cancelled games were all highly anticipated. The combination of the delayed launch and unannounced game cancellations have caused the company to incur a €500m of capitalized R&D depreciation.

In light of this news, Ubisoft has taken steps to try and make up for the losses. The company plans to focus on their existing brands and live services in order to maximize their profits. They have also taken steps to ensure that their future games are of the highest quality, and are not subjected to delays or cancellations in the future.

The news from Ubisoft has caused shockwaves in the gaming industry, and investors are anxiously waiting to see how the company will recover from this setback. It remains to be seen if the company will be able to come up with a plan that will help them recover from the losses incurred due to the cancellations and delays.