Ubisoft has announced the results from its first quarter of the 2016 fiscal year. Sales were down year-over-year, but exceeded expectations thanks to high catalog sales.
Sales revenue for the quarter was down 73.2 percent, dropping from €360.1 million ($ 397.1 million) to €96.6 million ($ 106.5 million). This was largely due to the absence of a major title in the quarter, compared to the release of Watch Dogs in the same period the year before.
However, sales exceeded targets of €80 million ($ 88.2 million) with Far Cry 4, The Crew, and Assassin’s Creed Unity still selling well. Digital was a major part of Ubisoft’s success for the quarter, jumping from 23.2 percent of total sales in last year’s first quarter to 56 percent this year.
The company is in the process of loading its gun for the fall, with few releases planned in the near-term. The July through September period will only see three releases: Might & Magic Heroes VII on PC, Rabbids Appisodes on iOS and Android, and Toy Soldiers War Chest on Xbox One, PlayStation 4, and PC.
Ubisoft’s fall includes Assassin’s Creed Syndicate, Just Dance, and Rainbow Six: Siege, Anno 2205, and Trackmania Turbo. We’ll have more from the upcoming earnings call this afternoon.
Ubisoft still needs to ensure that The Division lands in this fiscal year and has a clean launch. Consumers are wary after Assassin’s Creed Unity, which means this year needs to be one of rebuilding trust with fans.