Take-Two Interactive Sees Revenue and Bookings Drop, Reveals Losses

Published 1 hours agoTTWO

Take-Two Interactive Sees Revenue and Bookings Drop, Reveals Losses

Take-Two Interactive Software, Inc. has just announced its financial results for the fourth quarter of fiscal year 2024, revealing a decline in key areas. Total net bookings fell by 3% to $1.35 billion compared to the previous year's quarter, while GAAP net revenue also saw a 3% dip, dropping to $1.40 billion. The company reported a significant GAAP net loss of $2.90 billion, a noticeable change from last year's $610.3 million loss, influenced by $2.18 billion in goodwill impairment charges and $304.3 million in acquisition-related costs.

This quarter's results showed recurrent consumer spending down by 2%, though it still made up 79% of total GAAP net revenue. The major contributors to net bookings included popular titles like NBA 2K24, Grand Theft Auto V and Online, Toon Blast, and Red Dead Redemption 2, among others. Looking ahead, Take-Two forecasts revenue between $5.57 billion and $5.67 billion for fiscal year 2025, with bookings expected to range from $5.55 billion to $5.65 billion.

According to Take-Two Interactive's official site, these financial updates underscore the company's efforts to adjust in a competitive gaming market, while aiming to leverage its current portfolio for future gains. Despite the recent losses, the publisher remains a key player with various popular franchises contributing to its revenue pipeline.

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