Ubisoft's Q3 net bookings top guidance, confirms financial targets
By Augustin Turpin
Feb 8 (Reuters) - French video games group Ubisoft reported on Thursday third quarter net bookings slightly above its forecast, driven by new releases such as "Assassin’s Creed Mirage" and back catalogue sales.
The maker of the hit "Rainbow Six" franchise reported net bookings of 626 million euros ($674 million) for the three months to the end of December, above its guidance of 610 million euros.
"This quarter provided us with positive momentum and marks the beginning of our turnaround", CEO Yves Guillemot said in a statement.
Ubisoft confirmed its financial targets for the full year of strong sales growth and non-IFRS operating income of approximately 400 million euros. It also sees fourth-quarter net bookings "sharply up" and on track to deliver an annual record.
In August, in order to address concerns from Britain's antitrust regulator regarding Microsoft's acquisition of Activision Blizzard, the latter agreed to sell its streaming rights to Ubisoft.
"This should improve the appeal of our subscription programme", finance chief Frederick Duguet said in an call with journalists, adding Ubisoft had been talking to a number of platforms about possibly licensing these rights exclusively.
"That's what we're in the process of doing, particularly this quarter, as we'll be concluding a partnership on this theme."
The family-run firm's remaining line-up of games for the year includes the long-delayed "Skull & Bones", set for release on Feb. 16.
The group said it would release in May the full extent of its line-up for 2024-25, which will include "Star Wars Outlaws" as well as new "Assassin's Creed" and "Rainbow Six" titles. (Reporting by Augustin Turpin Editing by Mark Potter)
