Ubisoft Confirms Strong Third Quarter Performance, Driven by Assassin’s Creed Franchise
By Leo Marchandon
French video game publisher Ubisoft has confirmed its full-year financial targets after exceeding company forecasts in the third quarter, thanks to the success of its flagship “Assassin’s Creed” franchise.
Net bookings for the quarter reached 338 million euros ($402 million), a 12% increase compared to the previous year and surpassing the company’s guidance of 305 million euros issued in November.
Despite facing challenges such as game delays and weak execution, Ubisoft maintained its forecast for full-year bookings of around 1.5 billion euros and an operating loss of approximately 1 billion euros. The company’s shares have fallen more than 80% from their 2018 peak, reflecting investor concerns over profitability.
In January, Ubisoft announced a reorganization that included canceling six games and closing studios in Halifax, Canada, and Stockholm. The company originally projected 1.9 billion euros in bookings before the overhaul, which divided operations into five genre-focused divisions called “Creative Houses.”
Ubisoft will begin appointing Creative House leadership in March, including external hires of industry veterans. The company, known for the “Far Cry” franchise, attracted around 130 million unique active users across consoles and PC in 2025.
The third quarter’s success was driven by the strong performance of “Assassin’s Creed Shadows,” which launched on Nintendo’s Switch 2 in December.
Ubisoft expects to have cash reserves between 1.25 billion and 1.35 billion euros by the end of March, enough to cover a bond maturity of just under 500 million euros due in November 2027. Chief Financial Officer Frederick Duguet mentioned the company is exploring options to extend the average maturity of its debt beyond that date, with total debt standing at 1.15 billion euros at the end of September.
Overall, Ubisoft’s latest financial results demonstrate the company’s resilience and strategic focus on its key franchises, positioning it for continued success in the competitive gaming industry.
($1 = 0.8412 euros)
Reporting by Leo Marchandon in Gdansk; Editing by Matt Scuffham
