Ubisoft Reaffirms Full-Year Guidance After Q2 Revenue Surpass Expectations, Employee Count Decreases

Q2 net bookings reach $584.09 million on back-catalog performance and sales momentum from The Crew Motorfest and Assassin's Creed Mirage pre-shipments; workforce decline from cost-cutting plan brings current total to 19,410.

Ubisoft's Q2 net booking has exceeded expectations, reaching $584.09 million, far surpassing the target of $369.23 million (350 million euros). This superior performance was primarily driven by their back-catalog, The Crew Motorfest, and pre-shipments of Assassin's Creed Mirage.
Despite game cancellations and delays, Ubisoft maintains its full-year non-IFRS operating income forecast around $421.2 million (400 million euros). The company has also not released another major game it initially planned to launch in the last quarter of the fiscal year.
Ubisoft's total employee count has reduced to 19,410, a decrease from nearly 20,000 in May. This reduction aligns with the cost-cutting initiative the company announced in January and affirms its progress in this aspect.
Ubisoft reported an operating income of $16.96 million (16.1 million euros) in the six months ending in September, exhibiting a substantial improvement from a loss of $227.03 million (215.3 million euros) during the same period last year.
The company's upcoming 2023-24 line-up includes long-awaited titles like Skull & Bones, Avatar: Frontiers of Pandora, free-to-play games like Rainbow Six Mobile, and The Division Resurgence.