The FY22 results came in slightly below the consensus expectations. The weak Q1 23 net bookings target accounts for a back-catalogue-driven performance. The guidance for FY23 was sharply below expectations as the consensus seemed to have missed the higher-than-average marketing spend for the release of a strong pipeline of new IPs during the year. The latter disappointment calls for a cut in FY23 EPS but is unlikely to have a major impact on the consensus expectations for FY24 onwards.
12 May 2022
Ubisoft’s FY23 guidance, a miss unable to reverse the upside prospects
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Ubisoft’s FY23 guidance, a miss unable to reverse the upside prospects
- Published:
12 May 2022 -
Author:
Valentin Mory -
Pages:
3
The FY22 results came in slightly below the consensus expectations. The weak Q1 23 net bookings target accounts for a back-catalogue-driven performance. The guidance for FY23 was sharply below expectations as the consensus seemed to have missed the higher-than-average marketing spend for the release of a strong pipeline of new IPs during the year. The latter disappointment calls for a cut in FY23 EPS but is unlikely to have a major impact on the consensus expectations for FY24 onwards.