Ubisoft drops as Black Flag success fails to trigger guidance upgrade
BUZZ-Ubisoft drops as Black Flag success fails to trigger guidance upgrade ** Shares in Ubisoft UBIP.PA fall 3.7% after the video game maker confirmed its FY 2026/27 targets, disappointing hopes that the strong launch of Assassin's Creed Black Flag Resynced would lift the outlook
** TP ICAP says that while the success of Black Flag Resynced could have raised hopes of a guidance upgrade, lower revenue from the Licences and Partnerships division offsets the title's outperformance
** "Despite the success of Assassin's Creed Black Flag Resynced, already sold at more than 3.5 million copies, the underperformance of certain other divisions does not allow us to raise our 2026/27 scenario," TP ICAP writes
** Q1 net bookings came in at €255.8 mln, down 9.2% y/y, but above Ubisoft's target of around €250 mln
** TP ICAP analysts say the Q1 print was "satisfactory" and "slightly above" management guidance, but keep their estimates unchanged
** Up to the previous session's close, shares were down 26.7% YTD
(Reporting by Nathan Vifflin in Gdansk)
((nathan.vifflin@thomsonreuters.com; +48 58 769 67 13;))