A video game company can only take so many financial hits before admitting that there's something wrong with its approach.
With company share prices down by 86.5% since September 2019, which shouldn't have happened considering how many video game companies thrived during the COVID-19 pandemic, Ubisoft is now singing a different tune.
In its latest earnings call, Ubisoft ocnfirmed that it's lowering its financial targets for the current fiscal year, expecting break-even non-IFRS operating income after it had already lowered its forecasts for Q2 from €500 million ($557.7 million) to just €350 million ($390.4 million) to €370 million ($412.7 million). Ubisoft is now targeting net bookings of €1.95 billion at the end of the fiscal year.
This comes shortly after Ubisoft faced criticism shortly following the release of Star Wars Outlaws, one of the year's most talked-about games. Although not a Game of the Year contender by any means, Star Wars Outlaws was, in many ways, a major refinement of Ubisoft's open-world formula and gave audiences a chance to explore the Star Wars universe throughout the years of someone who was neither Sith nor Jedi.