Ubisoft has posted its financial results for the third quarter of 2020-2021, boasting its best quarter ever.
The period ended on December 31. During the three months, Ubisoft released huge games, including Assassin’s Creed: Valhalla, Immortals: Fenyx Rising, and Watch Dogs: Legion. The popular Just Dance franchise also debuted its latest entry.
Ubisoft reported net bookings of about $1.212 billion (€1.001 billion). That is more than double the $551 million (€455.5 million) from the same quarter last year.
All of gaming has been getting a boost thanks to the pandemic, as the sheltering masses flock to the medium for entertainment. While some companies, like Nintendo, had scaled-back offerings this holiday season, Ubisoft released a steady stream of big games.
The company also benefits from strong backlog sales. Older games like Mario + Rabbids: Kingdom Battle and the Far Cry franchise continue to sell well long after release.
For the future, Ubisoft has more big games like Far Cry 6 and an upcoming Star Wars project on the horizon. But neither of them are coming out in the next quarter, which is part of the reason Ubisoft is expecting bookings of $562 million to $634 million (€464 million to €524) million then.
Ubisoft’s stock is down 2% to $19.72 a share in trading now. Ubisoft said it named Raashi Sikka as VP of global diversity & inclusion, an important move as the company tries to address allegations about sexist and abusive behavior at the company.
Ubisoft also said it had borrowed €600 million ($726 million), adding to its war chest for potential acquisitions.
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Author: Mike Minotti
Source: Venturebeat
