A week after Electronic Arts reported increased profits, French publisher Ubisoft has also announced a major rise in its earnings. While Ubi's 28.8 percent increase to $55 million in Q3 2003 earnings were a fraction of EA's mammoth haul--a 53 percent jump to $530 million--it did please the markets. Ubisoft shares shot up 6.84 percent on the Paris Stock Exchange to 26.70 euros ($31.16 at current exchange rates) after the announcement, and analysts at French banking group BNP Paribas reiterated their "outperform" rating on the company's stock.
Overall, the first half of 2003 was even better for Ubisoft, publisher of Tom Clancy's Rainbow Six 3 and the upcoming Prince of Persia: The Sands of Time. Its first-quarter sales of 66.5 million euros ($77.6 million) were up 107.2 percent from the year before, and its second-quarter earnings were also up 21.0 percent to 62.3 million euros ($72.71 million).
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