Ubisoft, the renowned French publisher, has announced a significant 47.5% drop in revenue for the quarter ending in December. According to their Q3 financial reports, the company generated €318.1 million ($344.2 million), which is nearly half of the €606.4 million ($637 million) from the previous year. Net bookings followed a similar trend, plummeting by 51.8% to reach €301.8 million for the quarter.
A significant portion of the net bookings, around €268 million ($281.6 million) or 88%, came from their back catalog, though this was lower compared to the same period last year.
Yves Guillemot, Ubisoft’s CEO and co-founder, addressed investors by focusing on the company’s upcoming release, “Assassin’s Creed Shadows,” slated for launch on March 20. “Early feedback has been encouraging,” Guillemot shared, “highlighting the game’s engaging narrative and immersive environment. Both protagonists are intricately woven into the storyline, offering complementary roles that contribute to a rich gaming experience. Kudos to the dedicated Assassin’s Creed team, who’s been relentless in their efforts to make ‘Shadows’ the most ambitious installment of the series thus far.”
Additionally, Guillemot touched on their ongoing cost-reduction strategy, noting that through disciplined execution, they’ve embarked on further necessary restructuring. “We’ve had to make some tough decisions,” he admitted, “but these are essential. We now anticipate surpassing our cost reduction target by the close of FY25, which is ahead of schedule. We’re also planning to continue this momentum into FY26, aiming to exceed our initial goals significantly.”
Moreover, Guillemot discussed the current review process of their strategic options that was initiated earlier this year. “Our aim is to maximize the value of our assets for stakeholders and create optimal conditions for developing outstanding games in a rapidly changing market. We’re exploring various pathways to achieve these ambitions.”
This candid update outlines both challenges and optimism for Ubisoft as they navigate through a transformative phase.
