Ubisoft Entertainment SA To Provide Corporate Update Call Transcript
Good day, and thank you for standing by. Welcome to the Ubisoft update call. (Operator Instructions) Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Yves Guillemot. Please go ahead.
Welcome, everyone, and thank you for joining the call today on such a short notice. We are clearly disappointed by our recent performance. We are facing contrasted market dynamics as the industry continues to shift towards mega-brands and long-lasting live games, in the context of a worsening economic condition affecting consumer spending.
Despite excellent ratings and players' reception as well as an ambitious marketing plan, we were surprised by Mario + Rabbids: Sparks of Hope underperformance, particularly in the final weeks of '22 and beginning of January. Just Dance '23 underperformed as well.
In this context, we have had to update our revenue expectations with more
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