Ubisoft pushes its earnings report at the last minute – its stock is already down 47% this year

[Daniel Sims]

Crystal ball: Ubisoft has had a rough few years, which is why the sudden delay of an upcoming fiscal statement has sparked concern about the company's future. It might just be a minor accounting issue, but many are speculating that Tencent may be preparing to finally acquire Ubisoft.

Ubisoft postponed the release of its latest half-year financial results and halted trading of its shares and bonds, promising to publish the statement in the coming days. Although little is certain, the company could be preparing an announcement that would substantially impact its share price.

According to an email obtained by Insider Gaming, Ubisoft CFO Frédérick Duguet informed employees that the company is taking extra time to finalize its results and has halted trading to minimize market volatility. While Ubisoft could simply be resolving a small issue, the company's precarious financial situation has raised doubts about its long-term stability.

Yes, this could imply an acquisition of sorts. Could also imply some accounting / financial issue.

Just remember to freak the fuck out for the next few days and speculate as much as possible until they announce something.

– Daniel Ahmad (@ZhugeEX) November 13, 2025

Ubisoft's stock price has fallen steadily since 2021. The effects of the post-pandemic economy, combined with disappointing commercial performance and numerous project cancellations, have pushed the company's shares down by more than 90 percent over the past five years and 50 percent over the past year.

Speculation that Ubisoft could be acquired has circulated repeatedly since 2022, with Tencent considered the most likely buyer thanks to its growing investment in the company. In early October, Ubisoft moved its Far Cry, Assassin's Creed, and Rainbow Six franchises into a new subsidiary, Vantage Studios, supported by a $1.25 billion cash infusion from Tencent.

The 40-year-old gaming giant – one of the industry's largest third-party publishers – likely needs the money, as it has struggled to release hit games in recent years. Between 2022 and 2023, Ubisoft canceled seven projects. It also spent time on a fruitless NFT initiative that culminated in a late-2024 release that gained little traction.

Ubisoft's troubles continued after its biggest release of 2024, Star Wars Outlaws, failed to meet expectations. Although the game was not a total flop, its relatively modest sales prompted a shift in the company's strategy, increasing the pressure on Ubisoft's next tentpole title, Assassin's Creed Shadows.

Although Shadows performed well, reaching five million players, it may not have been enough to solve the company's deeper issues. In June, Ubisoft also shut down the free-to-play shooter XDefiant, laying off around 300 employees who worked on it.

While an acquisition remains the most widely speculated explanation for the delayed financial statement, Origami Media co-founder Gauthier Andres raised a more dire possibility: Tencent withdrawing from Vantage Studios. Although unlikely, the impact of such an event would be severe.

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Ubisoft pushes its earnings report at the last minute – its stock is already down 47% this year

 

[human7]

They started following in EA's footsteps, a mistake indeed.

 

[m4a4]

Not surprising considering their recent offerings were "modern audience" slop.

And it still amuses me that the first "AAAA" game didn't do all that well considering it was a spin off of one of their previously successful games, Black Flag.

 

[trieste1s]

Get woke, please, just go broke.
Let natural selection run its course.

 

[Nobina]

How did they not succeed with 99999th release of Assassins Creed and Far Cry? Are people not satisfied?

 

[godrilla]

How did they not succeed with 99999th release of Assassins Creed and Far Cry? Are people not satisfied?

It was a winning strategy and people were looking forward for an AC in Japan but they had to engage in identity politics instead of what the Gamers wanted. FC6 sales also seems to nose dive probably due to fatigue from the franchise. Here are sales from each versions of the games

 

[FaTaL]

I didnt read 1 word to this article...only the headline deserves a response:
Ubisoft is a piece of sht and makes pieces of sht. That is all. thank you and goodnight.

 

[SirDigby]

It was a winning strategy and people were looking forward for an AC in Japan but they had to engage in identity politics instead of what the Gamers wanted. FC6 sales also seems to nose dive probably due to fatigue from the franchise. Here are sales from each versions of the gamesView attachment 90724View attachment 90725

I'd always enjoyed Far Cry, but the gameplay changes put me off 6. I think I played it on a free weekend and it implemented health bars which I don't like at all - didn't explore if you can switch them off. I can't remember if I picked it up on a sale with the intention to revisit it, but I definitely got fatigue with FC5. I really enjoy the gameplay loop and the the first area liberation, but then it was just copy paste for the other 2 areas and felt too repetitive.
Also, the (buzzword bingo) ludonarrative dissonance of the games has been increasing throughout the series, like in 3 it makes sense that you're starting from nothing, hunting to craft, not too much silly stuff in the way of side quests and you're rescuing your friends.... in 5 you've got this big bad apocalypse impending with the Seed family who have their own private army, and you're just doing Evel Kneivil stunts on the side.....

 

[Liranan]

It was a winning strategy and people were looking forward for an AC in Japan but they had to engage in identity politics instead of what the Gamers wanted. FC6 sales also seems to nose dive probably due to fatigue from the franchise. Here are sales from each versions of the gamesView attachment 90724View attachment 90725

Where is the proof that *** Creed New York Simulator sold 4.3 million units? Ubiwoke only talk about players, not units sold, thus I don't believe a single word of what they say.

 

[Puiu]

Time for Tencent to go from 9.99% to 99.99%.

 

[winjer]

These results must be amazingly bad.
It's going to be funny seeing Ubislop crash and burn.

 

[AlexIL]

Always wondered who played the slop they been feeding us for years. Seems like nobody wants it.

 

[SirDigby]

Where is the proof that *** Creed New York Simulator sold 4.3 million units? Ubiwoke only talk about players, not units sold, thus I don't believe a single word of what they say.

Ghost of Yotei outsold Assassin’s Creed Shadows on PS5 in under three weeks

Analysing why Yotei has already sold 2.5M copies, but it Shadows took seven months to sell 2.4M on PS5. Plus, another look at our Helldivers 2 estimates (almost 20M sold!)

alineaanalytics.substack.com

The only source I could find, there are lots of articles rabbiting the 4.3million claim but they're all referring to this as the source, and further searches say Alinea Analytics has mixed reliability.
Ubisoft's own claim that AC Shadows has 5 million 'players' (https://insider-gaming.com/assassins-creed-shadows-has-surpassed-5-million-players/ dated 22nd July), suggesting that 700,000 played via Ubisoft+ Premium, somewhat believable. The game isn't available on Gamepass.

 

[Neatfeatguy]

Let us not forget that Ubisoft was gung-ho in wanting to incorporate NFTs into games as well and was pushing that idea pretty hard for a while.

AC games, they lost my interest after the 5th game - which would be AC3. Even up to AC3 the series was getting stale. It didn't help that the game went from you being able to take on 1, maybe 2 guys without succumbing to death to taking on a dozen+ guys like you're Batman from the Batman Arkham games. That was really off putting to me. Instead of trying to hide and only fight if you absolutely had to, you were just a walking army.

FarCry (original) always a blast to play.
FarCry 2 - trash, probably because I couldn't enjoy the game with the awful malaria mechanics.
FarCry 3 - a much improved game over 2, but still not the original.
FarCry 4 - what bore fest. Ubisoft shows I played the game for 10 hours, but I don't even remember if I beat the game. It was bad, everything about it was bad.
FarCry 5 - awful story, gameplay was mediocre at best, co-op was the only reason I played it and the instant teleportation that would happen to you (or your coop person) if you triggered a cut scene was annoying as hell.
FarCry 6 - no thanks. I can't take anymore of the series.

Then you have the Tom Clancy games, they haven't been very good either from what little I've played and the awful Star Wars game they put out....was it Outlaws or something like that? No thanks, just more Far Cry with different skins.

Ubisoft has become a 1 trick pony - same thing over and over again. People are tired of it and it seems like Ubisoft is just starting to realize it, but it's probably too late for them to make a real, serious return from the state they're currently in.

 

[AnilD]

The funniest part is that gamers are out here making memes about a Tencent takeover while Ubisoft is probably just trying to figure out how to explain that seven canceled projects, a dead NFT push, and a half-baked shooter didn’t magically turn profitable. The suspense is unreal.

 

[MerryJaneDoe]

How did they not succeed with 99999th release of Assassins Creed and Far Cry? Are people not satisfied?

As a GenX'er who recently returned to gaming after almost decade away, rest assured - definitely NOT satisfied with these franchises.

I loved FC3 and 4, so naturally I picked up where I left off. I bought FC5, New Dawn, FC6 and a couple of AC titles.

FC5 was amazing. It kept the best parts of the previous games and added new weapons/vehicles/abilities. The storyline was well-written and cohesive. New Dawn took a huge step backwards. The story didn't make any sense, the villains were toothless. It felt like interns had worked on this game and stopped halfway through. (That's ok, right? I mean, it's just a glorified expansion, not a stand-alone release...)

With optimism and hope, I played FC6 - and it's just an indescribable mess of a game. The problem isn't just that FC6 is "woke". The story is boring. Some missions don't properly trigger. The player's special abilities are tied to their wardrobe, instead of skill points. GFH are significantly weaker. IOW, every single aspect of the game was better (more fun!) in FC5.

As for Assassin's Creed, I've tried to find good things about this franchise - haven't found one yet that's enjoyable. I loaded up Origins first, and felt like I was playing a game designed by AI - flat and empty. Then I tried Unity. On the very first mission, there's a 2 foot tall brick wall that you can't climb over - it's blocking a path. So instead, they have you climb a 40 foot tower. I turned it off after that. It's mind-boggling to me that a AAA rated title would have such confusing world-building, or that my trained assassin can't jump a 2 foot wall.

So, yeah, it doesn't surprise me that Ubi is spiraling.

 

[Eldrach]

The problem with Ubisoft is that they have used the same formula for too long. The formula for Assassins Creed was really good in AC2 - And I'm one of the few that enjoyed AC3.

Black flag was great, but a bit too repetitive with all the shipfights.

Odyssey I enjoyed alot, but it was simply too big - if they cut that game size in half and had more to do in a smaller Area, that probably would've been the high point for me at least.
Valhalla was simply boring. Looked beautiful, but the most interesting part of it - Norway...was like 30 minutes. A viking themed game without any vikings..booh

 

[Achaios]

After what WOKE UBISOFT did to Japan, I would rather set my dollar bills on fire and stomp on them than use them to buy any UBISOFT game.

The only UBISOFT game I own is "ODYSSEY" and it will likely be the last seeing as how they have set themselves as fanatical and unrepentant Cultists in the Cult Of Woke.

I am not Japanese, but I have been to Japan many times and have great respect for the culture and history of Japan. If UBISOFT can uh defecate all over Japan's history and tradition in they manner they did with the "game that shall not be named" then all of us and our personal ancestry is liable to be treated in the same condescending manner in the name of WOKE.

Bear in mind, Japan is perhaps the single most important ally in the Asian Pacific region and the US is counting on them to assist us in case of war and thus reduce our own casualties.

And some WOKE company chose to defecate all over them just because they could and it was Tuesday.

 

[Liranan]

Ghost of Yotei outsold Assassin’s Creed Shadows on PS5 in under three weeks

Analysing why Yotei has already sold 2.5M copies, but it Shadows took seven months to sell 2.4M on PS5. Plus, another look at our Helldivers 2 estimates (almost 20M sold!)

alineaanalytics.substack.com

The only source I could find, there are lots of articles rabbiting the 4.3million claim but they're all referring to this as the source, and further searches say Alinea Analytics has mixed reliability.
Ubisoft's own claim that AC Shadows has 5 million 'players' (https://insider-gaming.com/assassins-creed-shadows-has-surpassed-5-million-players/ dated 22nd July), suggesting that 700,000 played via Ubisoft+ Premium, somewhat believable. The game isn't available on Gamepass.

Ubibankrupt hasn't released numbers on sales and now they've halted trading of their stock. The road to bankruptcy is paved with sweet, delicious, DEI money.

 

[HardReset]

Let us not forget that Ubisoft was gung-ho in wanting to incorporate NFTs into games as well and was pushing that idea pretty hard for a while.

AC games, they lost my interest after the 5th game - which would be AC3. Even up to AC3 the series was getting stale. It didn't help that the game went from you being able to take on 1, maybe 2 guys without succumbing to death to taking on a dozen+ guys like you're Batman from the Batman Arkham games. That was really off putting to me. Instead of trying to hide and only fight if you absolutely had to, you were just a walking army.

FarCry (original) always a blast to play.
FarCry 2 - trash, probably because I couldn't enjoy the game with the awful malaria mechanics.
FarCry 3 - a much improved game over 2, but still not the original.
FarCry 4 - what bore fest. Ubisoft shows I played the game for 10 hours, but I don't even remember if I beat the game. It was bad, everything about it was bad.
FarCry 5 - awful story, gameplay was mediocre at best, co-op was the only reason I played it and the instant teleportation that would happen to you (or your coop person) if you triggered a cut scene was annoying as hell.
FarCry 6 - no thanks. I can't take anymore of the series.

Then you have the Tom Clancy games, they haven't been very good either from what little I've played and the awful Star Wars game they put out....was it Outlaws or something like that? No thanks, just more Far Cry with different skins.

Ubisoft has become a 1 trick pony - same thing over and over again. People are tired of it and it seems like Ubisoft is just starting to realize it, but it's probably too late for them to make a real, serious return from the state they're currently in.

Currently, as using mods, Far Cry 2 is probably best Far Cry game. Those "annoyances" that most people "hate" (too much malaria, enemies spawn immediately on outposts) are gone. What is left to blame? Modded Far Cry 2 offer large and very good made map and also protagonist is not a superhuman like on later games on series.

Also Far Cry 2 offer enough challenge and is most realistic of all series. Far Cry 5 for example is total joke. I conquered entire city with just some lead pipe without any scouting before. Just rush in and kill everything. And yes, that was on highest difficulty. Not to mention Far Cry 3 where enemy patrols are not a threat. Usually they drive off road and exploding car kills everyone. Just watch and problem solves itself.

I agree that Far Cry 2 is unfinished on many aspects but using mods it's one of best open world games of all time.

 

[Marco Mint]

I see everyones catching up regarding ubisoft.
It must be at least 20 years since I last bought an ubisoft game. They only made it worse once uplay came out. I do not do 3rd party account sign ups on steam. Never will!
Now they mention Tencent being involved, they will be even less attractive to me. I don't do chinese related software. They aren't our friends and will use any method to gather western data with the objective being to one up us in one way or another. Don't like my opinions on that? I don't give a chit!
Ubisoft has a habit of jumping out of the frying pan and into the fire.

 

[toooooot]

They started following in EA's footsteps, a mistake indeed.

Ubi does not have such stable franchises as FIFA and other sports titles.
EA is in much better spot than UBI

 

[SirDigby]

Ubibankrupt hasn't released numbers on sales and now they've halted trading of their stock. The road to bankruptcy is paved with sweet, delicious, DEI money.

You're really embedded in the whole woke/DEI culture war, aren't ya?
Never mind the fact that the majority of their games for the last 15 years have been copy/paste, uninspired and formulaic and at the end of the day that well runs dry, no matter how you dress it up and call it 'new'.
I'm not saying go woke =/= go broke, just saying if that's what you fixate on you ignore the larger issues at hand, if they made a new Far Cry 7 as unwoke as possible can be, without changing the formula it'd still be a very tired formula.

 

[Liranan]

You're really embedded in the whole woke/DEI culture war, aren't ya?
Never mind the fact that the majority of their games for the last 15 years have been copy/paste, uninspired and formulaic and at the end of the day that well runs dry, no matter how you dress it up and call it 'new'.
I'm not saying go woke =/= go broke, just saying if that's what you fixate on you ignore the larger issues at hand, if they made a new Far Cry 7 as unwoke as possible can be, without changing the formula it'd still be a very tired formula.

Ubifail is not the creative power house they once were. Their best talent has left, pushed out by the blue haired nose ring mafia and this wasn't a sudden occurrence, this started years ago.

 

[GoldenGoat]

It makes me sad to see them get sold to china. Too many game companies ignore what gamers want though. Valve is about the only ones who get it. Then people complain they have a monopoly. There is a reason they do well. Game publishers who don’t get it will all end up losing their businesses to China.