Ubisoft, the renowned French gaming publisher, revealed a significant drop in revenue for the last quarter of the year, recording a 47.5% decrease. The financial figures for Q3 showed earnings of €318.1 million ($344.2 million), which is noticeably down from the previous year’s €606.4 million ($637 million). Additionally, net bookings took a substantial hit, plummeting by 51.8% to €301.8 million.
Interestingly, the back catalogue accounted for €268 million ($281.6 million), representing 88% of total net bookings, though this was also lower compared to the year before.
Yves Guillemot, Ubisoft’s CEO and co-founder, addressed investors with an optimistic outlook. “We are giving our full attention to the upcoming release of Assassin’s Creed Shadows on March 20,” he stated. The game has received promising early reviews, particularly for its storytelling and immersive gameplay. The dual protagonist approach adds depth to the game, with both characters playing pivotal roles. Guillemot praised the Assassin’s Creed development team for their exceptional talent and dedication, emphasizing that they’re working hard to ensure Shadows exceeds expectations as the franchise’s most ambitious installment yet.
On the business side, Guillemot shared that their cost-cutting measures are progressing well. Thanks to disciplined efforts, Ubisoft has initiated additional restructurings, making tough but necessary decisions. They now anticipate surpassing their cost reduction goals by the end of FY25. The company intends to continue this momentum into FY26, aiming to significantly exceed their original targets.
Furthermore, the company’s strategic review process, which was announced earlier this year, is actively underway. The aim is to unlock maximum value from Ubisoft’s assets for stakeholders and create optimal conditions for developing outstanding games in an ever-changing market. Guillemot expressed confidence that there are various potential paths to achieve these objectives.
