Ubisoft shares slump after Watch Dogs delay

Ubisoft shares slump after Watch Dogs delay
Craig Chapple

By Craig Chapple

October 17th 2013 at 11:13AM

But CEO Yves Guillemot hopeful on winning next-gen with impressive 2014 lineup

Shares in publisher Ubisoft have dived by 26 per cent following the news it would be delaying two of its next-gen titles.

On Tuesday the company shocked many by announcing it had moved the release date of its highly anticipated open world title Watch Dogs from November 22nd to 2014.

The publisher also said upcoming racing title The Crew would also be released after April next year.

As a result shares dropped by around 26 per cent to $8.19.

Following news of the delays, the publisher lowered its sales forecasts for the current financial year by more than $400m to $995m, and expects to report an operating loss of between $40m and $70m.

Despite this however, it should be noted that Ubisoft has an impressive looking 2014 having now added two big next-gen titles to next year's lineup.

Ubisoft CEO Yves Guillemot also recently said that the publisher's goal was to "win the next-generation", and hoped the delays would ensure its titles could realise their full potential.

"We are convinced that, longer term, they will prove to be the right decisions both in terms of satisfaction for our fans and in terms of value creation for our shareholders," said Guillemot.

"We are building franchises that will become perennial pillars of Ubisoft's financial performance. In a context of growing successes for mega-blockbusters, the additional time given to the development of our titles will allow them to fulfill their huge ambitions and thus offer players even more exceptional experiences.

"Fueled by strong momentum for PlayStation 4 and XboxOne, calendar 2014 will see the return of growth to the console market. Combined with the quality of our line-up and our strong financial situation, this growth will allow us to achieve record operating income in fiscal 2014-15 and 2015-16."