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What is going on behind the scenes at Ubisoft?
"Hi there, welcome back to GLTV News, I'm Alex, as always going through the afternoons, latest and greatest when it comes to gaming, technology, entertainment, whatever you like and indeed whatever you love, we always have it here for you at GLTV News and in the wider Gamereactor network as a whole."
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Without further ado though, today we're talking Ubisoft halting stock trading minutes after delaying its reports, its latest financial reports which were meant to come out yesterday."
"Usually we get a lot of financial reports around this time of year as companies dig into the first half of the fiscal year, so this being FY 2025-2026 which will end at the end of March, so you know, you'd look at the first six months and see how it goes for a lot of these companies."
"Ubisoft is definitely a company that people have been keeping their eye on because it's one of those where people are really, I would say, cautious about Ubisoft.
While they've had Assassin's Creed Shadows released this year, while they've had Star Wars Outlaws released last year, the sales figures of the games that they've been releasing just have not reportedly been matching their expectations and so stock price has been plummeting in recent years and really we're not hopeful, I would say, when we think about Ubisoft financials."
"However, the reason that they've stopped the stock trading as of today and until the financial report comes out in the coming days is according to Frédéric Duguerre, who is the Chief Financial Officer at Ubisoft, it's to stop speculation and the volatile nature of the market going out of hand basically."
"So this is from an internal email that was provided by Insider Gaming, which says, I wanted to let you know that we are taking extra time to finalise the closing of the semester and as a result we will publish our first half earnings results in the coming days instead of tonight."
"Due to legal regulations, we cannot share more information with you at this time.
To limit unnecessary speculation and market volatility during this short delay, we have asked Euronext to suspend the trading of our stock until the results are announced.
We know this is likely to raise questions and drive media coverage."
"I encourage you all to listen to the conference call, which will be available via the investor section of our site, just after the results are released, so you will have a more detailed view of our earnings.
So again, we don't know what Ubisoft's financials are looking like, although this doesn't exactly inspire confidence, especially with the fact that the trade, that the stock itself has been halted on the market."
"There's speculation around a potential buyout.
We saw EA get bought out earlier this year and considering Ubisoft's stock has kind of tanked, it wouldn't surprise us if they were considering offers.
However, that's not yet been confirmed and we can only speculate on that, and that's probably something that Mr. de Groot doesn't really want us to speculate on, considering that they've paused the stocks and they've stopped, they're not going to give out the financial earnings report for the next few days because of speculation."
"However, it's still something that we're going to talk about because Euronext made it more interesting that we're not seeing anything rather than what we are seeing, so people will continue to speculate about the unknown on this matter.
Personally, I don't think that things have gone very well for Ubisoft and that this is perhaps one last hold against another level of stock plummeting that they'd like to see."
"We don't know that for sure though, and it might be the case that Assassin's Creed Shadows has been a great boon to Ubisoft this year, but we'll wait and see.
What do you think about Ubisoft?
Let me know all that and more and I'll see you next week for some more TRTV news."
"Goodbye."
