French publishing giant Ubisoft has reported a 47.5 per cent decline in its revenue for the three months ending December.
In its financials for Q3, the company brought in €318.1 million ($344.2 million), almost half the €606.4 million ($637 million) that it managed the previous year. Net bookings, meanwhile, more than halved – dropping by 51.8 per cent – to €301.8 million for the period.
Back catalogue was behind €268 million ($281.6 million) or 88 per cent of total net bookings, though were apparently down year-on-year.
“We are fully focused on the upcoming launch of Assassin’s Creed Shadows on March 20," CEO and co-founder Yves Guillemot told investors.
"Early previews have been positive, praising its narrative and immersive experience, with both characters playing critical roles in the game’s storyline, as well as the quality and complementarity of the gameplay provided by the dual protagonist approach. I want to commend the incredible talent and dedication of the entire Assassin’s Creed’s team, who is working tirelessly to ensure that Shadows delivers on the promise of what is the franchise’s most ambitious entry yet.
"In parallel, we are progressing well on our cost reduction program. As a result of disciplined execution, we have announced further targeted restructurings, making difficult but necessary choices, and now expect to exceed our cost reduction objective by the end of FY25, ahead of schedule. We plan to pursue our efforts in FY26, going beyond the initial target by a significant margin.
Finally, the formal review process of our strategic options announced earlier this year is now ongoing. Ultimately, the objective is to unlock the best value from our assets for our stakeholders and to foster the best conditions to create great games in a fast-evolving market. We are convinced there are different potential
paths to achieve this ambition."
