Ubisoft Entertainment Projects Record Sales for FY2024

Ubisoft Entertainment, the renowned video game developer responsible for the popular Assassin’s Creed franchise, has announced that it is confidently on track to achieve record-breaking sales for the financial year ending in March. This declaration has successfully calmed investors’ concerns about a potential downward revision in its full-year 2024 guidance.

Based on the recently published results, Ubisoft has confirmed its optimistic outlook for the financial year 2024. These results reveal strong financial performance for the last quarter of 2023, surpassing its initial €610 million bookings guidance by generating a remarkable €626.2 million in net bookings.

Buoyed by this success, the French gaming giant is poised to accomplish its full-year 2024 targets. Notably, its recent releases, such as “Prince of Persia: The Lost Crown” and “Assassin’s Creed Mirage,” have played a pivotal role in securing their projected “strong topline growth.”

This positive development has significantly impacted Ubisoft’s stock performance. Shares in Ubisoft (UBI) experienced a notable surge of 19% on Friday, signifying a remarkable recovery from the stock’s previously tumultuous performance in 2024.

It is worth noting that Ubisoft faced substantial challenges in the financial year ending March 2023. The company suffered a record loss primarily due to a significant decline in sales triggered by the waning effects of the COVID-19 pandemic. This downturn was further exacerbated by a series of delays and game cancellations, ultimately resulting in a €500.2 million loss for the company.

However, despite these setbacks, the Paris-based gaming company now anticipates meeting its guidance and generating approximately €400 million in profit by the end of March 2024. This optimistic outlook has reassured investors who had concerns about a potential guidance revision.

In summary, Ubisoft Entertainment’s strong financial results for Q4 of 2023, coupled with the successful launch of new titles, have instilled confidence among investors. With robust sales projections for FY2024, the company appears to be on the path to recovery and sustained growth.


In a recent report by Deutsche Bank analysts, it was stated that Ubisoft’s stock has experienced a significant decrease of approximately 30% within just four months. This, combined with the anticipation of a material cut, has resulted in high short interest. However, the company’s stronger-than-expected quarterly results have now the potential to restore positive sentiment among investors. Additionally, the impressive pipeline of games expected in FY-25 further contributes to this positive outlook for Ubisoft.

Successful Quarter Amidst Challenges

During the three-month period ending in March, Ubisoft witnessed an impressive 43.1% increase in net bookings. These numbers are noteworthy considering the underwhelming performance of the game “Avatar: Frontiers of Pandora,” which was released on December 7, 2023. Despite this setback, Ubisoft managed to meet consumer demands with their other new releases.

Robust Back Catalog Contributions

Apart from their new releases, Ubisoft’s back catalog also played a significant role in bolstering their bookings. The popular title “Tom Clancy’s Rainbow Six Siege,” initially released in 2016, experienced a remarkable increase of 60% in playtime compared to the previous year. This strong performance of their back catalog further contributes to Ubisoft’s overall success.

CEO’s Vision for Consistently Good Games

Yves Guillemot, Ubisoft’s Chief Executive, acknowledges that the recent success was in part due to their latest Assassin’s Creed game, Mirage. Guillemot emphasizes the company’s commitment to consistently delivering high-quality games moving forward—a sentiment shared by AJ Bell analysts led by Russ Mould. Mould does raise thought-provoking questions regarding why this commitment had not been made earlier and why it seemingly wasn’t as easy as it appears now.

Promising Future Releases

Looking ahead, Ubisoft remains optimistic about their sales performance for the financial year 2025. They anticipate that the release of new games, such as Star Wars Outlaws and Assassin’s Creed Codename Red, will contribute significantly to their growth and overall success.

In conclusion, Ubisoft’s strong quarterly performance has instilled renewed positive sentiment among investors. Despite challenges and underwhelming releases, the company’s ability to meet consumer demand with new releases and leverage its robust back catalog showcases their resilience and potential for future growth. With promising games on the horizon, Ubisoft remains poised for success in the coming years.

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