Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Ubisoft shines as bookings beat forecasts

(Sharecast News) - Shares in Ubisoft Entertainment powered up on Friday after the French gaming firm reported above-forecast quarterly bookings. The company behind the Assassin's Creed and Prince of Persia series, among others, said third-quarter net bookings were €626.2m, an increase of 43% and ahead of guidance for €610m.

Ubisoft said the performance had been driven by high-quality new releases as well as the strength of its back catalogue.

Recent well-received releases include Assassin's Creed Mirage, Avatar: Frontiers of Pandora and The Crew Motorfest.

Ubisoft also reaffirmed its full-year target for operating income of around €400m. Fourth quarter net bookings are expected to be "sharply up", it noted, leading to "record" annual numbers.

As at 1100 GMT, shares in the Paris-listed business had put on 19%.

In a statement released late on Thursday, co-founder and chief executive Yves Guillemot said: "This quarter provided us with positive momentum and marks the beginning of our turnaround to consistently creating and delivering high-quality, long-lasting games.

"The fourth quarter represents an opportunity to continue to build on this momentum, with the launch of Prince of Persia: The Lost Crown and the release of Skull and Bones.

"We made further progress in streamlining our operations and at the same time saw overall talent retention continue to improve. We are firmly committed to continuing along this path in the months ahead to deliver on our cost-reduction targets."

Russ Mould, investment director at AJ Bell, said: "The shares have had a torrid time coming out of the pandemic as the boom period, which resulted from people being stuck inside with nothing to do, very quickly turned to bust as pressures increased on household finances and people had alternative activities to pursue.

"This has been compounded at Ubisoft by delays to key releases and some poorly received titles.

"Its latest update offers new hope, as does the upcoming release of Star Wars Outlaws, which is tapping into some extremely strong IP."

Star Wars Outlaws is due for release in the 2025 full-year, alongside Assassin's Creed Codename Red.

Share this article

Related Sharecast Articles

Agronomics investee Solar Foods raises EUR 8m
(Sharecast News) - Cellular agriculture investor Agronomics announced on Friday that its portfolio company Solar Foods had raised an additional €8m through Finnish investment organiser Springvest.
Berenberg hikes target price on Greggs
(Sharecast News) - Analysts at Berenberg raised their target price on bakery chain Greggs from 3,550.0p to 3,990.0p on Friday as it noted that customer appeal had broadened as its market share was expanding.
Thousands of UK firms fighting for survival - Begbies Traynor
(Sharecast News) - More than half a million UK business are fighting for survival, according to an industry research published on Friday, weighed down by the weak economy.
Thruvision FY24 adjusted underlying losses widen
(Sharecast News) - Security technology business Thruvision said on Friday that adjusted underlying losses had widened in FY24 as revenues fell.

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.