Ubisoft's Q1 Results Beat Expectations, Strong Slate of Upcoming Titles
Publisher Ubisoft has made a solid start to the new fiscal year, with Q1 net bookings ahead of target. Robust engagement metrics driven by GaaS franchises, particularly XDefiant and Rainbow Six Siege. The Assassin's Creed and The Crew brands are also strong. Star Wars Outlaws and Assassin's Creed Shadows are further highlights in the pipeline.
Ubisoft started the fiscal year with net bookings for the first quarter (April to June 2024) above target. The French publisher recorded net bookings of €290.0 million, ahead of the target of around €275.0 million and up 8.3% year-on-year. 88.7 per cent of net bookings were digital net bookings and more than half of net bookings (54.7 per cent) were PRI net bookings, i.e. purchases by returning customers. 86 per cent of all net bookings came from the back catalogue. The quarter was marked by strong growth in game session days of 15 per cent across consoles and PC, driven primarily by Games-as-a-Service. Monthly active users reached 38 million, up seven per cent year-on-year.