Ubisoft meets FY24 sales targets but cancels The Division Heartland

Ubisoft today released its financial earnings report for the full fiscal year 2023-24. The company reports about €2.3 billion in net bookings, or about $2.1 billion, a 33% year-over-year improvement, which it says is in line with its targets. Ubisoft also reports that it’s seeing growth thanks to strong performances from the Rainbow Six and Assassin’s Creed franchises. The company’s €200 million cost reduction program is also reportedly on track to reach its goal by FY26.

According to Ubisoft, it’s shifted its strategic focus towards reinforcing two pillars: Making the open-world adventure games for which it’s best known, and expanding its games-as-a-service presence. CEO Yves Guillemot said iin the earnings call that this year is a “pivotal first step” in bringing Ubisoft “back on track” adding, “With these core verticals, and leveraging ongoing investments in our technologies to reach and maintain a competitive advantage, we aim to drive growth and recurrence with the objective to gradually expand operating income and generate robust free cash flow.”