Take-Two Q2 2024 Earnings Report
Key Takeaways
Take-Two Interactive reported strong second-quarter results with Net Bookings reaching $1.44 billion. The company is optimistic about its multi-year growth trajectory and ability to deliver long-term shareholder value.
Total Net Bookings decreased by 4% to $1.44 billion compared to $1.50 billion in the same quarter last year.
GAAP net revenue decreased by 7% to $1.30 billion, compared to $1.39 billion in the prior year.
GAAP net loss was $543.6 million, or $3.20 per share, compared to a net loss of $257.0 million, or $1.54 per share, in the comparable period last year.
The company is reiterating its fiscal 2024 Net Bookings guidance of $5.45 to $5.55 billion.
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Take-Two Revenue by Segment
Forward Guidance
Take-Two is revising its outlook for the fiscal year ending March 31, 2024, and providing its initial outlook for its fiscal third quarter ending December 31, 2023.
Positive Outlook
- Total net revenue $5,370 to $5,470 million
- Net Bookings $5,450 to $5,550 million
- Non-GAAP EBITDA $378 to $430 million
- Adjusted Unrestricted Operating Cash Flow approximately $100 million
- Net loss per share $(5.62) to $(5.35)
Challenges Ahead
- Total net revenue $1,290 to $1,340 million
- Net Bookings $1,300 to $1,350 million
- Non-GAAP EBITDA $95 to $116 million
- Net loss per share $(0.73) to $(0.63)
- Loss income before income taxes $(155) to $(134)