Online sales jump by 127 per cent to offset falling retail revenues
Ubisoft has reported sales of over $160 million for Q1 2013.
This figure is up by 27 percent from the same period last year, and beats guidance by $20 million.
The positive returns for the quarter helped share prices to climb three percent to $5.19.
The company credits the results to better than expected sales of Ghost Recon: Future Soldier and a staggering 127 percent jump in online sales.
Total online sales amounted to $33 million.
Online sales of the Ubisoft back catalog helped to offset a 41 percent drop in retail back catalog sales.
Company CEO Yves Guillemot claims that these results show a company making a strong comeback in the core sector with steady momentum in the casual market.
Ubisoft projections for Q2 2013 are about $135 million, lower than the same period last year which was helped by the release of Driver: San Francisco.
"Our medium-term goal is to capitalize on both the arrival of the new generation of consoles and the ramp-up of the Free-to-Play segment, which represent two major opportunities for us to step up growth and enhance our profitability," said Guillemot.
"Our capacity to create successful brands and high-quality content, allied with our ongoing progress in the item-based model, multi-screen gaming and the development of Uplay (our online services and distribution platform, which now boasts 35 million members) place us in an ideal position to leverage these two opportunities.”
The company stands by its previous guidance of $1.4 billion for fiscal year 2013.