Ubisoft Plunges Most Ever on Guidance Cut, Canceled Games

Ubisoft Entertainment SA shares crashed by the most ever on Thursday after the Assassin’s Creed maker said it would cancel game projects, shut down studios and cut its guidance.

The French game maker expects to record a loss before interest and tax of €1 billion ($1.2 billion) in the fiscal year 2025-2026 as a result of the restructuring, driven by a one-time writedown of about €650 million, the company said in a statement late Wednesday.