Ubisoft's Q1 bookings beat guidance despite declining year over year, while recurring player spending remained resilient across its existing portfolio. Assassin's Creed Black Flag Resynced exceeded full-year sales expectations within two weeks and should contribute positively in Q2. Ubisoft still trades at a steep discount to gaming peers, with my base-case price target implying approximately 14.5% upside.
The French videogame group reported a 9.2% slip in first-quarter net bookings, but said the success of its video game remake showed its operations overhaul is paying off.
French video games company Ubisoft said on Wednesday it recruited Amazon Games Vice President Christoph Hartmann to lead its "Creative House 2", the division that manages games in the Tom Clancy franchise, such as "Splinter Cell" and "The Division".
Ubisoft Entertainment cofounder Claude Guillemot has died at 69. French authorities said Guillemot was involved in a fatal plane crash.
Ubisoft's restructuring efforts are showing progress through cost reductions, balance sheet improvement, and the implementation of its new operating structure. Ubisoft's established franchises, including Assassin's Creed, Rainbow Six Siege, and The Division, continue driving strong recurring revenue and back-catalog performance. Ubisoft trades at an EV to EBITDA multiple of 2.13, suggesting the market still expects the company's turnaround efforts to fail.
Ubisoft shares plunged 18% on Thursday after the Assassin's Creed maker warned of further losses this year.
The French videogame group said it expects to return to positive non-IFRS operating profit and free cash flow generation in the fiscal year through March 2028, not in fiscal 2027 as previously planned.
French videogame publisher Ubisoft warned on Wednesday of another year of losses and lower sales after a record annual operating loss, deepening pressure on the company as it restructures.
Ubisoft remains highly speculative, with persistent operational underperformance and a negative earnings outlook through at least 2029E. Recent restructuring, project cancellations, and a focus on core IPs aim to restore quality and cut €200M in costs over two years. Despite a €600M cash cushion and Tencent's support, high debt (€2.1B) and ongoing game failures cloud near-term prospects.
Ubisoft Entertainment SA (OTCPK:UBSFY) Q2 2026 Earnings Call November 21, 2025 3:30 AM EST Company Participants Yves Guillemot - Co-Founder, Chairman, CEO, President & Chief Creative Officer Frédérick Duguet - Chief Finance Officer Conference Call Participants Aleksander Peterc - Sanford C. Bernstein & Co., LLC.
Ubisoft Entertainment has delayed the launch of its much-anticipated title “Assassin's Creed Shadows” and has “appointed advisors to review strategic options to extract the best value for stakeholders.
Ubisoft, which is behind the "Assassin's Creed" franchise, last week said it has postponed the release of the next title in the popular game series by three months to Feb. 14, 2025. Shares of Ubisoft, which also cut net bookings guidance for its full fiscal year and second quarter, have slumped to decade lows on the back of dismal investor expectations about the company's triple-A games pipeline and financial prospects.