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Ubisoft announced its financial earnings report for Q3 2024, surpassing its financial targets. The company’s net bookings for the quarter sit at €626 million, or just under $675 million, and for the whole nine months at around $1.6 billion. This achievement is attributed to the successful performance of its games, including Assassin’s Creed Mirage and Avatar: Frontiers of Pandora, released in the quarter.
The company initially predicted €610 million or about $657 million in net bookings for the quarter. The actual result of $675 million is a 43.1% increase from Q3 2023. Ubisoft CEO Yves Guillemot stated, “In Q3, we made further progress in streamlining our operations and, at the same time, saw overall talent retention continue to improve. We are firmly committed to continuing along this path in the months ahead to deliver on our cost-reduction targets and better position ourselves for collective success in the long term.”
In its forward-looking projections, the company expects a strong Q4 performance, with the release of Prince of Persia: The Lost Crown and Skull & Bones. Additionally, the company’s lineup for Fiscal Year 2024-25 includes Assassin’s Creed Red and Star Wars Outlaws. Guillemot also mentioned that Outlaws is due to launch before the end of 2024, while Red is planned for a general FY release. Ubisoft plans to reveal the full roster of 2024-25 releases in May.
Guillemot added that live service titles like Rainbow Six Siege continue to account for a large amount of net bookings. He also discussed the potential contributions of free-to-play games such as XDefiant, Rainbow Six Mobile, and The Division Resurgence, while defending the fact that Skull & Bones is not free-to-play, as mentioned during the company’s conference call. On the other hand, he admitted that Ubisoft’s interest in VR has cooled following the middling response to Assassin’s Creed Nexus VR.
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