Ubisoft Raises Targets, Shares Up As a Result
By Chris on Tuesday, April 1st, 2008 at 10:58 PM PST In Game Companies, Games Industry, Ubisoft
Following solid sales from a number of their games, Ubisoft has updated its fiscal 07-08 guidance with full year sales up from EUR 875 million to EUR 920 million. The previous target was set in late January, but the strong start for Rainbow Six Vegas 2 (read Jonathan’s impressions here) and Assassin’s Creed continued sales have the company optimistic.
“As expected, 2008 is off to be a record year for the videogame market and our games have performed remarkably well in this context,” said Yves Guillemot, president and CEO.
“Assassin’s Creed and our Games For Everyone brands continued their strong performance and Tom Clancy’s Rainbow Six Vegas 2 had a better than expected start.”
As a result of the increase, the company opened the day at $58.44 and rose as high as $59.94 after closing yesterday at $54.47, according to GamesIndustry.biz. Prices have been steadily rising since Ubisoft purchased the rights to the Tom Clancy name. It doesn’t look like there’s any real reason to believe the increase will be stopping anytime soon given Ubisoft’s strong foundation of franchises.
