Ubisoft Entertainment SA revised earnings guidance for the full year 2023. Full year net bookings are now expected to be down at least 10% year-on-year versus prior expectation of at least 10% growth. This primarily reflects the previously mentioned impact from fiscal 2023 new releases, which combines the postponement of Skull and Bones and the underperformance of Third Quarter launches as well as, to a lesser extent, the impact from partnerships and softer back-catalog on casual mobile games.

Full year non-IFRS operating income is now expected at around minus EUR 500 million versus around EUR 400 million previously. This reflects 2 points: first, around EUR 400 million impact from the expected lower net bookings in fiscal '23; and second, depreciation of capitalized R&D of around EUR 500 million mentioned earlier.