After a short delay, Ubisoft has posted its first-half earnings figures for 2025-2026. The company says that its Q2 net bookings exceeded expectations and its deal with Tencent to invest $1.2 billion in Vantage Studios--a new subsidiary focused on its three main franchises--is expected to close within a few days.
Ubisoft says that its Q2 net bookings were up 39% year-on-year, driven by stronger-than-expected performance across its games catalogue and TV projects. The company had initially predicted that it would reach $520 million for its quarterly books, but this figure increased to $566.7 million.
"Our portfolio showed contrasting dynamics this quarter, with softer trends for Rainbow Six Siege, reflecting a phase of evolution for the game in an intense FPS environment, offset by strong performances across the rest of the catalog. The Assassin’s Creed franchise exceeded our expectations, confirming its positive momentum and ability to engage players over time. The Division 2 also continued to perform strongly, benefiting from the momentum of the Battle for Brooklyn DLC," Ubisoft Yves Guillemot said in a press release.
The formation of a new operating model built around "Creative Houses" is still on track, and Ubisoft says that these will foster "stronger creative vision, greater focus, efficiency, autonomy and accountability" as it aims to finalize these plans by the end of the year. A full reveal of the new operating model will be unveiled in January 2026.
Looking ahead, Ubisoft is expecting its net bookings to remain stable year-on-year and it has forecast third-quarter net bookings of $352 million. After the initial date for Ubisoft's financial report was delayed, it was speculated that the company might have found a private buyer, similar to how EA sold itself to Saudi Arabia's Public Investment Fund, Jared Kushner's Affinity Partners, and the private equity firm Silver Lake.
CFO Frederick Duguet told staff in an internal email that the reason for the delay was so that Ubisoft could take "extra time to finalize the closing of the semester" and limit such "unnecessary" speculation. Ubisoft has gone through a turbulent time as of late, as the company reportedly canceled a Civil War-inspired Assassin's Creed game and Assassin's Creed creative lead Marc-Alexis Côté left Ubisoft in October. In the earnings report shared in July 2025, the company noted that revenues had continued to decline at the time.
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Ubisoft says that its Q2 net bookings were up 39% year-on-year, driven by stronger-than-expected performance across its games catalogue and TV projects. The company had initially predicted that it would reach $520 million for its quarterly books, but this figure increased to $566.7 million.
"Our portfolio showed contrasting dynamics this quarter, with softer trends for Rainbow Six Siege, reflecting a phase of evolution for the game in an intense FPS environment, offset by strong performances across the rest of the catalog. The Assassin’s Creed franchise exceeded our expectations, confirming its positive momentum and ability to engage players over time. The Division 2 also continued to perform strongly, benefiting from the momentum of the Battle for Brooklyn DLC," Ubisoft Yves Guillemot said in a press release.
The formation of a new operating model built around "Creative Houses" is still on track, and Ubisoft says that these will foster "stronger creative vision, greater focus, efficiency, autonomy and accountability" as it aims to finalize these plans by the end of the year. A full reveal of the new operating model will be unveiled in January 2026.
Looking ahead, Ubisoft is expecting its net bookings to remain stable year-on-year and it has forecast third-quarter net bookings of $352 million. After the initial date for Ubisoft's financial report was delayed, it was speculated that the company might have found a private buyer, similar to how EA sold itself to Saudi Arabia's Public Investment Fund, Jared Kushner's Affinity Partners, and the private equity firm Silver Lake.
CFO Frederick Duguet told staff in an internal email that the reason for the delay was so that Ubisoft could take "extra time to finalize the closing of the semester" and limit such "unnecessary" speculation. Ubisoft has gone through a turbulent time as of late, as the company reportedly canceled a Civil War-inspired Assassin's Creed game and Assassin's Creed creative lead Marc-Alexis Côté left Ubisoft in October. In the earnings report shared in July 2025, the company noted that revenues had continued to decline at the time.
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