France's Ubisoft postpones 'Assassin's Creed Shadows' release, cuts guidance
Added details, CEO and CFO comments throughout
By Mathias de Rozario
Sept 25 (Reuters) -French videogame maker Ubisoft UBIP.PA has postponed the release of "Assassin's Creed Shadows" by three months to Feb. 14, 2025 and cut its net bookings guidance.
Ubisoft said in a statement that net bookings are now seen falling from last year, to around 1.95 billion euros for the company's 2024-2025 fiscal year. For the second quarter through end-September, net bookings are expected to be worth around 350 million to 370 million euros, compared with the 500 million euros anticipated previously.
Shares in Ubisoft touched 10-year lows this month after a muted reception to the release of its "Star Wars Outlaws" game.
They closed at 11.42 euros on Wednesday, before Ubisoft released its statement.
Ubisoft had been betting on the two titles after four years of negative cash flows with game cancellations and delays.
"Beyond the first important short-term actions undertaken, the Executive Committee, is launching a review aimed at further improving our execution," CEO Yves Guillemot said in a press release.
The family-owned company said it is now departing from the traditional video game "Season Pass" model which gives access to current and future content, but added that those who preorder "Assassin's Creed Shadows" will be granted the first expansion for free.
"As the growth transformation continues, we may progress on our cost reduction initiative, with headcounts steadily decreasing over the first half," CFO Frederick Duguet said on a call with analysts.
Ubisoft also announced that "Star Wars Outlaws" will be available on the Steam store on Nov. 21.
Reported by Mathias de Rozario; Editing by Kirsten Donovan
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