Surprisingly, Ubisoft released its latest quarterly financial results, which confirmed that the company’s performance at the end of 2021 fell short of expectations.
In today’s report for the three months ended December 31, the publisher said that fiscal third quarter sales fell 31% to €666 million ($757 million), while revenue fell 25% to €746 million ($848 million).
The reason for this was the weak sales of Far Cry 6 and Riders Republic, released at the end of 2021, which failed to perform as well as Assassin’s Creed: Valhalla, which is still the most successful game of the publisher.
In the first nine months of the fiscal year, Ubisoft game sales fell 18% to 1.42 billion. euros ($1.61 billion), while game sales revenue fell 17% to 1.46 billion. euro ($1.66 billion).
Ubisoft said it expects mid- or lower-than-expected results for the next quarter, noting that there will be stronger sales growth towards the end of March, with full-year revenue and earnings in line with or slightly below expectations.