Assassin's Creed maker Ubisoft reports Q3 net bookings in line with forecast
Technology
Assassin's Creed maker Ubisoft reports Q3 net bookings in line with forecast
(Reuters) - French video game producer Ubisoft (UBIP.PA) reported on Thursday net bookings of 726.9 million euros ($776.2 million) in its third quarter to the end of December, in line with its forecast.
That was a drop of 2.6% year-on-year, however, with Ubisoft citing the impact of the macroeconomic environment on the video game market and the company’s performance.
The gaming market is set to fall 4.3% in 2022, according to estimates from gaming market research firm Newzoo.
Ubisoft has been dogged by game delays in recent years and last month warned of the biggest operating loss in its history, while vowing to focus on major franchises after scrapping seven projects since July.
The company stuck to January’s guidance for an operating loss of around 500 million euros in its 2022-23 year.
“As we are focused on building on our strengths, we are prioritising our efforts on big brands and long-lasting Live games,” said Ubisoft’s co-founder and chief executive officer Yves Guillemot.
Ubisoft said its line-up for the next fiscal year would include Skull & Bones - first revealed in 2017 - Assassin’s Creed Mirage and Avatar: Frontiers of Pandora.
