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Ubisoft posts $74M net losses, cancels games

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Ubisoft posts $74M net losses, cancels games

Ubisoft has published its financial results for the fiscal year ending March 31, 2011. The company reported a net loss of 52.1 million euros (approximately $74 million) for the period, despite a 19% increase in sales to 1.039 billion euros ($1.47 billion).

The company credited the sales uptick to the continued success of the Just Dance games, hopping on-board the Kinect and 3DS launches, and Assassin's Creed Brotherhood. It seems like Ezio is a pretty safe sales bet, which might explain Assassin's Creed Revelations. Read more »

"In complete agreement. R6V2 was the last Ubi game I enjoyed--in fact, my friends and I still ..."
- badcaps    See all 45 comments

Activision Blizzard Annual Net Revenue Up; Workforce Restructured in Wake of Game Cancellations

Activision Blizzard has confirmed that a wave of job losses will sweep through the company after revealing multiple titles in its catalog have been canceled.

In a Form 8-K report released to investors (and publicly) to announce major changes, Activision Blizzard notes that the company's board of directors have approved a restructuring plan which includes the "separation of approximately 500 employees." The plan--which the company anticipates will be implemented in the quarter ending March 31, 2011--will result in a "net pre-tax charge in the first two quarters of 2011, which is expected to total between $35 and $50 million, comprised of severance costs, the costs of other separation benefits and other exit costs." Read more »

"I see my cunning expression wasn't lost on you. it sucked before he bought it, it sucks again."
- vertdang    See all 27 comments

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