Red Steel

Ubisoft Reports First-Quarter 2009-10 Sales

Ubisoft reported a challenging start to the 2009-10 fiscal year, with first-quarter sales falling 51% to €83 million.

• Ubisoft's first-quarter sales for fiscal year 2009-10 fell 51% to €83 million, missing previous guidance by 12.6%.
• The revenue decline was primarily driven by a sharper-than-anticipated drop in Nintendo DS software sales and weak back-catalog performance on PlayStation 3 and Xbox 360.
• The company lowered its second-quarter and full-year financial targets due to difficult market conditions.