Ubisoft’s latest earnings report showed that revenue fell sharply by 31.4% year-on-year to 990 million euros in the first three quarters of the fiscal year.
At the same time, Ubisoft’s net bookings fell 34.8% in the first three quarters, digital net bookings fell 33.8%, net bookings for previous games fell 27.7%, and net bookings for the third quarter fell 51.8% year-on-year. However, Ubisoft said the sharp drop was in line with expectations.
Assassin’s Creed: Shadow’s delay is clearly the main reason for Ubisoft’s sharp decline in earnings, but it is worth mentioning that Ubisoft performed quite strongly in the third quarter of fiscal year 2023. Assassin’s Creed: Illusions was released during this period, and although it did not cause a sensation, it was loved by many players. In addition, Avatar: Pandora Frontier was also launched in the third quarter of fiscal year 2023, boosting the quarterly earnings report.
However, Ubisoft remains optimistic about the upcoming Assassin’s Creed: Shadow release. Chief Financial Officer Frederick Duguet noted that the game’s pre-sales were “solid,” on par with Odyssey, the series ‘second-highest grossing game.
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