Ubisoft reports Q1 net bookings EUR281.6M, down 2.9% year-over-year

Reports Q1 IFRS 15 sales EUR310.8M, down 3.9% year-over-year. The company said the “below expectations” net bookings result reflects a lower-than-expected performance for “Tom Clancy’s Rainbow Six Siege,” a partnership that is now expected to materialize in Q2 and, to a lesser extent, an unfavorable foreign exchange impact. Yves Guillemot, Co-Founder and Chief Executive Officer, said “The first quarter delivered mixed results. On the positive side, Assassin’s Creed Shadows delivered on its expectations, with now more than 5 million unique players since its launch, and Rainbow Six Siege X received highly positive player feedback thanks to its renewed gameplay and enhanced features that drove significant player engagement growth. However, player spending in Rainbow Six Siege faced temporary but significant disruptions due to technical pricing issues, which have now been identified and addressed. Despite this one-off setback, the growth potential of the game is strong with solid traction on activity and in-game spending.”