French video game producer Ubisoft, maker of the blockbuster "Assassin's Creed" franchise, on Thursday posted a 8.7% decline in net bookings in its first quarter, blaming a lack of new games releases.

Net bookings in the April-June period fell to 267.7 million euros ($298.35 million), Ubisoft, which had guided for 240 million, said in a statement.

The family-run firm, which has been dogged by game cancellations and delays in recent years, confirmed its targets for the 2023/24 finance year and said it expects second-quarter net bookings to increase to 350 million euros.

Sales in the first quarter fell 9.2% to 288.9 million euros.

Last year, the Paris-listed publisher had posted the biggest operating loss in the company's history in its finance year 2022/23 that ended March 31.

  - Reuters