On October 27th, Ubisoft announced its financial results for the first half of the 2022-23 fiscal year. The company revealed that it suffered net losses in the first half of this year due to lost research, game cancellations, and development expenses.
Through the first half of the year, which ended on September 30th, 2022, the organization posted a net loss of $190.6 million, a massive increase from the same period last year, when the company recorded slight profits of $1.6 million. Net bookings also fell by 2.6% from 2021 to 2022.
Despite this down half, Ubisoft confirmed its full-year revenue guidance. Additionally, third-quarter bookings are expected to hit $832 million.
“This semester, we continued to adapt and transform our organization in order to focus our resources on our biggest opportunities, as exemplified by the recently announced Global Creative Office and by our cost-optimization efforts,” said Yves Guillemot, the company’s CEO. “On our journey to reach $2 billion combined net booking per year for our three biggest brands within the next five years, we revealed our most ambitious roadmap ever for the Assassin’s Creed brand which received an incredibly enthusiastic response from fans. Our objective is to bring the brand to new heights by reaching a significantly wider audience with more platforms and business models. We are replicating this strategic template with our other major brands, starting with Rainbow Six and The Division in the near future.”
(All information was provided by GlobeNewswire and Reuters)
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