Ubisoft’s Q3 Revenue Falls by 50% Compared to Last Year

Ubisoft, the well-known French publishing powerhouse, recently disclosed a significant downturn in its revenue, with a notable 47.5% drop for the fourth quarter concluding in December.

In their Q3 financial report, Ubisoft revealed earnings of €318.1 million ($344.2 million), which is almost half of what they reported the previous year, where they brought in €606.4 million ($637 million). Concurrently, their net bookings experienced a steep decline, plummeting by 51.8% to €301.8 million for the quarter.

The company’s back catalogue contributed €268 million ($281.6 million), making up 88% of their total net bookings. However, this also showed a dip compared to the year before.

CEO and co-founder Yves Guillemot took the opportunity to update investors on their latest projects: “Our primary focus is on the imminent release of Assassin’s Creed Shadows, set for March 20,” he said.

“Preliminary reviews have been encouraging, highlighting the game’s captivating narrative and immersive experience,” Guillemot continued. “Both characters significantly enhance the storyline, and the gameplay’s dual protagonist feature has received high praise for its quality and synergy. I have to applaud the incredible talent and commitment of the Assassin’s Creed team; they are truly dedicated to making Shadows the most ambitious installment in the franchise yet.”

Guillemot also emphasized their strides in cost management: “We’re making substantial progress on our cost-cutting initiative. Due to our disciplined approach, we’ve announced further strategic restructurings. These were tough but essential decisions, and we now anticipate surpassing our cost reduction goals by the conclusion of FY25, which is earlier than expected. We aim to maintain this momentum into FY26, surpassing our initial targets significantly.”

Furthermore, Guillemot mentioned an ongoing strategic review process initiated earlier this year. “Our ultimate aim is to maximize the value of our assets for stakeholders and to create optimal conditions for developing excellent games in a rapidly changing market. We believe there are several possible paths to reach this goal,” he concluded.