French Video Game Maker Ubisoft Increases Writedowns, Lowers Targets on Weak Sales

The Ubisoft Entertainment logo is seen at the Paris Games Week (PGW), a trade fair for video games in Paris, France, October 29, 2019. (Reuters)
The Ubisoft Entertainment logo is seen at the Paris Games Week (PGW), a trade fair for video games in Paris, France, October 29, 2019. (Reuters)
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French Video Game Maker Ubisoft Increases Writedowns, Lowers Targets on Weak Sales

The Ubisoft Entertainment logo is seen at the Paris Games Week (PGW), a trade fair for video games in Paris, France, October 29, 2019. (Reuters)
The Ubisoft Entertainment logo is seen at the Paris Games Week (PGW), a trade fair for video games in Paris, France, October 29, 2019. (Reuters)

Ubisoft is increasing expected writedowns to 500 million euros ($538 million) and is cutting its full-year revenue target on weaker-than-than expected sales at the end of 2022, the French video game maker said on Wednesday. 

Ubisoft cited the deterioration of the economic environment, marked by lower spending on non-essential goods to explain the acceleration of the depreciation, previously targeted at 400 million euros. 

The group is also postponing the of the release of its game "Skull and Bones", and is planning cost cuts of 200 million euros over two years, which will includes layoffs, Chief Financial Officer Frederick Duguet said in a call with reporters. 

Duguet declined to elaborate on the number of job cuts. The company said it was now expecting full-year net bookings to be down by more than 10%, compared with a previous target of growth of 10%. 



Pearson and Google Team up to Bring AI Learning Tools to Classrooms

The Google logo is seen outside the company's offices in London, Britain, June 24, 2025. REUTERS/Carlos Jasso
The Google logo is seen outside the company's offices in London, Britain, June 24, 2025. REUTERS/Carlos Jasso
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Pearson and Google Team up to Bring AI Learning Tools to Classrooms

The Google logo is seen outside the company's offices in London, Britain, June 24, 2025. REUTERS/Carlos Jasso
The Google logo is seen outside the company's offices in London, Britain, June 24, 2025. REUTERS/Carlos Jasso

Pearson has entered a multi-year partnership with Alphabet's Google cloud service, providing students with AI learning tools that also make teachers' jobs easier, the British education company said on Thursday.

The tie-up will focus on creating personalized learning tools powered by Google's advanced artificial intelligence models for students in primary and secondary school, Reuters reported.

The tools will adapt to each student's pace and needs, while also helping teachers track performance and tailor lessons, the companies said in a statement.

Pearson Chief Executive Omar Abbosh said AI could help reshape school education by replacing uniform teaching methods with personalized learning paths tailored to individual students.

Pearson has also signed multi-year AI-focused partnerships with Microsoft and Amazon's cloud computing services, as part of its efforts to personalize learning and offer more digital education tools.