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Ubisoft released its first quarter fiscal year earnings report today, and the publisher’s figures showed a significant year-over-year decline.
For the quarter ended June 30, Ubisoft recorded revenue down 14% to € 353 million ($ 415 million), with net bookings down 21% to € 326 million ( $ 384 million).
While total bookings were slightly higher than Ubisoft’s forecast, the publisher faced a difficult comparison to the first quarter of last year when the pandemic pushed sales to record highs despite a titled release list. through Monopoly’s Stadia debuts and new seasons for Rainbow Six: Siege and For Honor.
The first quarter of this year had a more robust line of releases, including Uno: 50th Anniversary and new updates for Assassin’s Creed Valhalla, Watch Dogs: Legion, Immortals Fenyx Rising, Rainbow Six: Siege, Anno 1800, For Honor and The Division 2.
Looking ahead, Ubisoft expects second-quarter net bookings of 340 million euros ($ 400 million), which would be down just over 1% year-over-year. This reflects a release slate driven by another assortment of updates for its franchises, as well as the China-exclusive Switch game Rabbids Adventure Party and the launch of the Rocksmith + service on PC.
The publisher expects to offset those declines in the second half of the year and told investors it expects single-digit growth in net bookings for the full year.
During a post-benefit call, Guillemot underlined the publisher’s strategy to develop its traditional AAA premium content activity while publishing free entries for its brands in order to broaden the global audience.
Guillemot said the publisher is spending 80% of its future content investments on premium content titles, with the remaining 20% focusing on expanding its free-to-play list.
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