Ubisoft improves losses in first half of fiscal 2011

Ubisoft has posted the financial results (PDF) of the first half of its fiscal 2011 and, though the company still isn't in the black, losses have been significantly reduced. For the first half of the year ended September 30, Ubisoft reported sales of €248.5 million, down from €260.5 million during the same period last year. While sales were down, Ubisoft's six month loss shrank from €89.8 million in the first half of fiscal 2010 to €37.1 million.

The results were higher than expected, with CEO Yves Guillemot citing an 85 percent growth in the company's online business and strong back catalog sales of titles like Assassin's Creed: Brotherhood, the Just Dance series and Michael Jackson: The Experience. Guillemot also noted that Driver: San Francisco enjoyed "better-than-expected sales."

In the second quarter alone, the online segment in particular saw sales increase by 132 percent, led by titles including From Dust and ... the Smurfs Facebook game. Frankly, we're starting to worry about a grim future in which all video games are Smurfs social games.