Ubisoft Reports $117M Loss On Sales Drops, Catalog Discounting

With first-week sales of Assassin's Creed II up 32 percent over the previous title, Ubisoft says the game is likely to beat expectations -- but for the first six months of its fiscal year, the company reported a 78 million Euros($117 million) operating loss.

The loss, which comes alongside sales of 166 million Euros ($249 million) in the three-month period that ended September 30, is in line with the company's targets. Ubisoft says it's seen a sharp drop in sales over the fiscal year so far, and gross profits from its back catalog fell "sharply" on aggressive retail discounting and promotions.

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