Paris – Ubisoft’s stock jumped on Friday after returning to trading on the Paris exchange, ending a week of confusion and rumor sparked by the company’s sudden decision to delay its earnings report without giving any reason.
The unexpected delay, along with a trading halt, had many in the gaming industry wondering whether Ubisoft was facing a major problem—or even a possible takeover, especially as the gaming world continues to consolidate.
But the real story turned out to be far less dramatic. Ubisoft said Friday that the delay happened because new auditors flagged issues with how the company accounted for a partnership, forcing a “restatement” of its half-year results.
“This is why we needed more time,” said finance director Frederick Duguet during a conference call.
Investors seemed relieved. Ubisoft shares climbed 11.5% in morning trading, reaching 7.55 euros. Even with the jump, the stock remains more than 40% lower than it was a year ago.
Ubisoft, one of the world’s biggest video game publishers with about 17,000 employees, is known for franchises like Assassin’s Creed, Far Cry, and Just Dance.
The company also revealed that its new “strategic” deal with Chinese tech giant Tencent will be finalized in the coming days. Tencent will take a 25% stake in Ubisoft’s new Vantage Studios in exchange for a 1.16 billion-euro investment. Vantage will oversee major titles, including Assassin’s Creed, Far Cry, and Rainbow Six.
For the first half of its financial year, Ubisoft reported stronger-than-expected net bookings, boosted by partnerships and income from TV productions. Assassin’s Creed performed particularly well. But total sales still slipped by 2.1% to 657.8 million euros.
Ubisoft kept its full-year outlook unchanged, expecting stable revenue and operating profit near breakeven.
Since 2023, the company has been cutting costs, closing studios outside France and reducing its workforce by over 3,000 employees.
