Ubisoft Entertainment reported first-quarter net bookings of about €282 million for the fiscal year ending March 2026, a 2.9% decline from a year earlier and below the company’s €310 million target. Management blamed the shortfall on technical pricing problems that curtailed player spending in “Tom Clancy’s Rainbow Six Siege,” a delayed partnership payment and adverse foreign-exchange moves. Chief Executive Officer Yves Guillemot said the Rainbow Six issues have been resolved and reiterated full-year guidance for flat bookings and a broadly break-even operating result. The company projects second-quarter net bookings of roughly €450 million, a figure analysts said exceeds their expectations. While Rainbow Six stumbled, “Assassin’s Creed Shadows” surpassed five million unique players since its late-March launch, helping to sustain engagement across the publisher’s portfolio. Executives also hinted that the title will reach Nintendo’s forthcoming Switch 2 console later in the fiscal year, adding another potential driver of sales. Ubisoft will reorganise its studios into autonomous “Creative Houses” intended to speed decision-making and sharpen franchise focus. The first unit—set to manage Assassin’s Creed, Far Cry and Rainbow Six—will be 25% owned by Tencent, which is injecting €1.16 billion to strengthen Ubisoft’s balance sheet and reduce net debt. The mixed quarter initially pushed the shares lower, but the brighter outlook and restructuring plan sent Ubisoft up about 3% in late-morning Paris trading.