Ubisoft, the French video game maker, has reported a 52% year-on-year decline in its third-quarter net bookings. The company attributed this drop to underperforming titles and confirmed that it is on track to meet its revised financial targets for the current fiscal year.
For the quarter ending December 31, Ubisoft’s net bookings totaled €301.8 million ($314.69 million), which aligns with its revised guidance of around €300 million. The company expects to exceed €1.9 billion in net bookings for the full year and achieve break-even non-IFRS operating income and free cash flow.
Despite the current challenges, Ubisoft is optimistic about the launch of “Assassin’s Creed Shadows” on March 20. Early previews have been positive, praising the game’s narrative and immersive experience. Pre-orders for the game are tracking solidly, similar to those of “Assassin’s Creed Odyssey,” the second most successful entry in the franchise.
To address its financial issues, Ubisoft plans to pursue fixed cost reductions worth €200 million by the end of fiscal year 2024-25. The company is also reviewing strategic options and will oversee the process through an independent board committee to extract value from its assets and franchises.
Source: https://www.reuters.com/technology/ubisoft-reports-52-drop-q3-net-bookings-line-with-guidance-2025-02-13