Ubisoft Reports Losses in the First Half of Fiscal 2022-23
The company expects the second half to make up for the revenue dip.
Ubisoft has recently reported the financial results of the first half of fiscal 2022-23, showing that the company's revenue slightly declined compared to the previous year, but the decline was not as severe as Ubisoft had told investors to expect. The company stated that their H1 FY23 revenue was €731 million, down 3% year-on-year, and reported net bookings of €699 million, also down 3%, and an operating loss of €215 million. Despite the slight revenue dip, the company is sure that the recently-released Mario+Rabbids: Sparks of Hope, which the developer called its biggest release this fiscal year, will more than cover it, reiterating its guidance of non-IFRS operating income of €400 million.
Moreover, the developer highlighted the robust activity of their other games, reporting that Assassin's Creed: Valhalla crossed 20 million unique players, and Rainbow Six Siege showed an 18% growth in net bookings and passed 85 million unique players.
"Q2 total net bookings of €406m, well above target of approximately €270m," stated the company. "Outperformance was driven by a much stronger back-catalog and, to a greater extent, from the faster revenue recognition phasing of the mobile licensing partnership."
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