Take-Two Interactive Software, Inc. Reports Results for Fiscal First Quarter 2025
Take-Two Interactive Software, Inc. (NASDAQ:TTWO) today reported results for the first quarter of its fiscal year 2025, ended June 30, 2024. For further information, please see the first quarter fiscal 2025 results slide deck posted to the Company’s investor relations website at take2games.com/ir.
Management Comments
“We achieved solid first quarter results by engaging our players with exciting new game releases and content updates, while also maintaining our focus on efficiency. Our management team remains confident in our path forward and we are reiterating our Net Bookings outlook for the year of $5.55 to $5.65 billion,” said Strauss Zelnick, Chairman and CEO of Take-Two Interactive.
“We are highly optimistic about our future — our core franchises remain vibrant, our teams are hard at work on the most ambitious development pipeline in our history, and we are evaluating continually new growth opportunities that have the ability to enhance our business model and financial profile. As we pursue our strategic priorities, we expect to achieve sequential increases in Net Bookings in Fiscal 2026 and 2027, which we believe will drive long-term shareholder value.”
First Quarter Fiscal 2025 Financial and Operational Highlights
Total Net Bookings* grew 1% to $1.22 billion, as compared to $1.20 billion during last year’s fiscal first quarter.
Net Bookings from recurrent consumer spending** were flat and accounted for 83% of total Net Bookings.
The largest contributors to Net Bookings were NBA® 2K24, Grand Theft Auto® Online and Grand Theft Auto V, Toon Blast™, our hyper-casual mobile portfolio, Empires & Puzzles™, Match Factory!™, Red Dead Redemption® 2 and Red Dead Online, Words With Friends™, and Merge Dragons!™.
GAAP net revenue increased 4% to $1.34 billion, as compared to $1.28 billion in last year’s fiscal first quarter.
Recurrent consumer spending** increased 3% and accounted for 82% of total GAAP net revenue.
The largest contributors to GAAP net revenue were NBA 2K24, Grand Theft Auto Online and Grand Theft Auto V, Toon Blast, Empires & Puzzles, our hyper-casual mobile portfolio, Match Factory!, Red Dead Redemption 2 and Red Dead Online, Words With Friends, and Merge Dragons!.
GAAP net loss was $262.0 million, or $1.52 per share, as compared to $206.0 million, or $1.22 per share, for the comparable period last year.
* Net Bookings is our operational metric and defined as the net amount of products and services sold digitally or sold-in physically during the period, and includes licensing fees, merchandise, in-game advertising, strategy guides and publisher incentives.
** Recurrent consumer spending is generated from ongoing consumer engagement and includes virtual currency, add-on content, in-game purchases and in-game advertising.