Ubisoft stock falls 33% after overhaul, studio closures and six game cancellations

Ubisoft's shares dropped 33% on Thursday morning after the company announced a broad restructuring that includes shutting two studios and canceling six games. On Wednesday night, Ubisoft said it expects a €1 billion operating loss for the financial year ending 2026 and a €650 million restructuring impact, while cutting its net bookings outlook to €1.5 billion.