Ubisoft released upbeat H1 20 results with sales (+8.5% yoy) and profitability (€21.1m vs. €0.9m in H1 19) above expectations. Sales were driven by the first wave of lockdowns, while profitability was led by higher digital sales. Despite these results, Ubisoft announced the delay of 2 AAA games due to pandemic-related issues (work-from-home). Therefore, Ubisoft maintains a relatively ambitious guidance, however, it has been downgraded due to the delays.
06 Nov 2020
Cloud gaming as a short-term catalyst amid more lockdowns
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Cloud gaming as a short-term catalyst amid more lockdowns
Ubisoft released upbeat H1 20 results with sales (+8.5% yoy) and profitability (€21.1m vs. €0.9m in H1 19) above expectations. Sales were driven by the first wave of lockdowns, while profitability was led by higher digital sales. Despite these results, Ubisoft announced the delay of 2 AAA games due to pandemic-related issues (work-from-home). Therefore, Ubisoft maintains a relatively ambitious guidance, however, it has been downgraded due to the delays.