Ubisoft reports Q1 sales EUR 288.9M, consensus $257M

Reports Q1 net bookings EUR 267.7M, down 8.7% from last year. The company said, “This quarter, we delivered a better-than-expected performance and we continued to progress on our two-pillar strategy of reaching a significantly larger audience and growing our recurring revenues. We showcased our promising big-brand games and Live experiences during the highly regarded Ubisoft Forward event, positioning us favorably for the upcoming months and years. In addition to increased engagement and positive sentiment from players, Ubisoft Forward was an important moment of pride for our teams across the world. Our test phases for our Free-to-Play titles during the quarter provided key data to our teams as they are getting the games ready for release.”