Ubisoft Expects Record Year Following Strong Q3 Bookings

Ubisoft has announced its financial results for the first nine months of the fiscal year, revealing a modest increase in net bookings despite a decline in revenue. The publisher is confident that it will achieve a record year in terms of net bookings by the end of the current quarter, driven by the success of recent releases such as Assassin's Creed Mirage and Avatar: Frontiers of Pandora, as well as the ongoing popularity of Rainbow Six Siege. Key highlights from the financial report include: for the nine months ending December 31, 2023, revenue was €1.443 billion, down 4.1% year-on-year, while net bookings reached €1.449 billion, up 1.6%. Digital net bookings were €1.19 billion, a decline of 2.1%, but back-catalogue net bookings surged 39.7% to €1.05 billion. In Q3, net bookings were €626.2 million, slightly ahead of guidance, with digital net bookings accounting for 75% of the total at €468 million. Although this represents an 18% year-on-year decline, Ubisoft is optimistic about Q4, anticipating a sharp rise in bookings driven by new releases, including Prince of Persia and Skull and Bones, as well as continued strong sales from its back catalogue. The company has reaffirmed its full-year target of €400 million non-IFRS operating income, with CEO Yves Guillemot expressing confidence in the company's turnaround, citing the positive momentum from the latest quarter as a stepping stone towards consistently delivering high-quality, long-lasting games.