Ubisoft has revealed its earnings report for Q1 2021-22, showing net sales down 17% for the quarter.
Ubisoft reported net sales at €353 million, down 17% year-over-year, while net bookings were down 21% to €326 million.
Of course, any company’s figures are going to be down compared to the 2020 gaming boom, so a dip is hardly surprising.
Compared to last year the company had a stronger lineup of releases this quarter, with updates to some of their biggest titles, such as Watch Dogs: Legion, Assassin’s Creed Valhalla, Immortals Fenyx Rising, Rainbow Six: Siege, For Honour, The Division 2 and Anno 1800 – as well as the release of Uno: 50th Anniversary.
Net bookings for Q2 meanwhile are expected to hit €340 million, bolstered by another round of updates for its biggest franchises, as well as the China-exclusive Switch title Rabbids Adventure Party, as well as the release of the Rocksmith+ service.
For the full year ahead, Ubisoft is expecting single-digit growth in net bookings.
“This quarter, we continued to invest in our biggest brands and technologies with the goal of significantly expanding audience reach and recurrence,” said Ubisoft CEO Yves Guillemot. “With record viewership, our recent Forward event offered an exciting glimpse at the extensive premium content our teams are creating for the coming months and years. At the same time, thanks to our free-to-play initiatives, we are expanding our brands’ universes and bringing them to a significantly wider audience as illustrated by yesterday’s reveal of Tom Clancy’s XDefiant. Over the course of the quarter, we also continued to implement important changes to our organization in order to seize the industry’s biggest opportunities.
“The industry continues to offer bright prospects. With our high-quality brands, technology and exceptional teams, Ubisoft is ideally positioned over the coming years to deliver double-digit topline growth as well as continued profitability progression leading to a material rise in operating income.”