Ubisoft: Oddo BHF reports a quarter 'above expectations'

(CercleFinance.com) - After last night's publication by Ubisoft of its quarterly results “slightly above [its] expectations”, analyst Oddo BHF this morning indicated that it is maintaining its 'Neutral' recommendation for the share.


“Yesterday evening, Ubisoft published its Q1 FY19 turnover (period April-June 2018). It shows a growth of 89% to E382 million (based on historical accounting standards and net bookings), a level slightly above our expectations (E375 million) and outstripping management guidance (E350 million)” comments Oddo BHF.

“This dynamic comes in the context of a favourable comparative basis. Although no game with strong potential was launched last year, this year the group has seen the success of Far Cry 5, launched at the end of March, and the release of The Crew 2 launched at the end of June”.

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