Ubisoft, the renowned French publisher, has revealed a significant dip in its revenue for the quarter ending in December, with figures plunging by 47.5%.
During the third-quarter financial report, Ubisoft declared earnings of €318.1 million ($344.2 million), a sharp contrast to the €606.4 million ($637 million) it gathered during the same period the previous year. Net bookings also saw a substantial decline, dropping by a staggering 51.8% to €301.8 million.
Most of this revenue—€268 million ($281.6 million) or 88% of total net bookings—was attributed to their back catalogue, though this too experienced a downturn on a year-over-year basis.
CEO and co-founder Yves Guillemot assured investors, “We’re channeling all our energy into the much-anticipated release of Assassin’s Creed Shadows on March 20.” He highlighted that early feedback has been encouraging, with the narrative and immersive experience receiving high praise. The dual protagonist approach, enriching the game’s storyline, has also been well-received. Guillemot expressed admiration for the Assassin’s Creed team, acknowledging their relentless work to make Shadow the most ambitious entry in the series yet.
The company is simultaneously making strides with its cost-cutting strategy. “Thanks to disciplined execution, we’ve initiated further targeted restructurings,” Guillemot noted. “Though some tough decisions were necessary, we’re now on track to surpass our cost reduction goals by the end of FY25, earlier than planned. Our objective is to extend these efforts into FY26, aiming beyond our initial targets.”
Additionally, Ubisoft has embarked on a formal review process of its strategic options, announced earlier this year. Guillemot explained that their primary aim is to maximize asset value for stakeholders while fostering the ideal environment for producing outstanding games in today’s rapidly changing market. “We believe there are several potential paths to achieve our ambition,” he concluded.
