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Shares in video games maker Ubisoft hit record high after first-quarter sales

Published 07/19/2017, 09:22 AM
Updated 07/19/2017, 09:30 AM
© Reuters. The Ubisoft booth is shown at the E3 2017 Electronic Entertainment Expo in Los Angeles
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PARIS (Reuters) - Shares in French video games maker Ubisoft hit a record high on Wednesday, after Ubisoft posted an increase in first-quarter sales.

Ubisoft, in which French media giant Vivendi (PA:VIV) has built up a stake of around 27 percent, rose 9.4 percent to a record intraday high of 53.19 euros in late session trading.

"The new game development at Ubisoft lends itself towards online, multi-player and evolving (rather than static) experiential games – which we see as the sweet spot of franchise longevity, monetization, and higher margins," said Northern Trust (NASDAQ:NTRS) Capital Markets analyst Neil Campling.

"We remain buyers of Ubisoft," he added.

© Reuters. The Ubisoft booth is shown at the E3 2017 Electronic Entertainment Expo in Los Angeles

Ubisoft is best-known for its Assassin's Creed video game and its shares are up by around 60 percent since the start of 2017, outperforming gains of around 10 percent on France's SBF-120 index.

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