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Jun 30, 2023
Take-Two Q1 2024 Earnings Report
Take-Two's first quarter of fiscal year 2024 results were reported, showing growth in net bookings and revenue, but also a net loss.
Key Takeaways
Take-Two Interactive reported a strong start to fiscal 2024, with net bookings of $1.20 billion, driven by Grand Theft Auto Online, Grand Theft Auto V and NBA 2K23. GAAP net revenue increased by 17% to $1.28 billion. The company is reiterating its net bookings outlook for fiscal year 2024 of $5.45 to $5.55 billion.
Total Net Bookings grew 20% to $1.20 billion, compared to $1.00 billion in the previous year.
GAAP net revenue increased 17% to $1.28 billion, compared to $1.10 billion in the previous year.
GAAP net loss was $206.0 million, or $1.22 per share, compared to $104.0 million, or $0.76 per share, for the comparable period last year.
The company is revising its outlook for the fiscal year ending March 31, 2024 and is providing its initial outlook for its fiscal second quarter ending September 30, 2023.
Take-Two
Take-Two
Forward Guidance
Take-Two is revising its outlook for the fiscal year ending March 31, 2024 and is providing its initial outlook for its fiscal second quarter ending September 30, 2023.
Positive Outlook
- Total net revenue $5,370 to $5,470 million
- Cost of revenue $2,521 to $2,548 million
- Interest and other, net $119 million
- Non-GAAP EBITDA $413 to $466 million
- Net Bookings $5,450 to $5,550 million
Challenges Ahead
- Operating expenses $3,383 to $3,403 million
- Loss income before income taxes $(653) to $(600) million
- Net loss $(545) to $(501) million
- Net loss per share $(3.20) to $(2.95)
- Adjusted Unrestricted Operating Cash Flow approximately $100 million