Shares in the Assassin’s Creed maker dropped 18 per cent in Thursday trading after the company’s full-year earnings report showed slumping sales alongside larger-than-expected losses, and said a return to profitability would have to wait until next year. (The Logic)

Talking point: While the recently released Assassin’s Creed Shadows broke a string of underperforming major games for the French publisher, bookings for the full year were still down almost 21 per cent, and it’s expecting the current year’s bookings to be flat, with no major releases from its biggest brands. The company also said it completed a €200 million cost reduction plan early, and has begun looking for ways to cut at least another €100 million over the next two years. Ubisoft recently announced a partnership with Tencent to put its key intellectual property and development teams in a new subsidiary as a way to accelerate their growth, but its impact on the current fiscal year may be limited as the deal is expected to close by the end of 2025.