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Sep 30, 2022
Take-Two Q2 2023 Earnings Report
Reported strong results driven by new game launches and content updates, while updating the outlook for fiscal year 2023 to reflect shifts in pipeline, FX rates, and macroeconomic conditions.
Key Takeaways
Take-Two Interactive reported a 62% increase in GAAP net revenue to $1.4 billion and a 53% increase in Net Bookings to $1.5 billion for the second quarter of fiscal year 2023. The company updated its outlook for fiscal year 2023, projecting Net Bookings between $5.4 billion and $5.5 billion.
GAAP net revenue increased 62% to $1.4 billion.
Net Bookings grew 53% to $1.5 billion.
Company updated outlook for fiscal year 2023, including Net Bookings of $5.4 billion to $5.5 billion.
Recurrent consumer spending increased 95% and accounted for 79% of total GAAP net revenue.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Take-Two is revising its outlook for the fiscal year ending March 31, 2023, and is providing its initial outlook for its fiscal third quarter ending December 31, 2022.
Positive Outlook
- GAAP net revenue is expected to range from $5.41 to $5.51 billion
- Net cash provided by operating activities is expected to be over $630 million
- Adjusted Unrestricted Operating Cash Flow (Non-GAAP) is expected to be over $650 million
- Net Bookings (operational metric) are expected to range from $5.4 to $5.5 billion
- EBITDA (Non-GAAP) is expected to range from $465 to $514 million
Challenges Ahead
- GAAP net loss is expected to range from $674 to $631 million
- GAAP net loss per share is expected to range from $4.22 to $3.95
- GAAP net revenue is expected to range from $1.43 to $1.48 billion
- GAAP net loss is expected to range from $160 to $142 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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