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Mar 31, 2023
Take-Two Q4 2023 Earnings Report
Take-Two's Q4 2023 financial results were reported, showing increased revenue and net bookings, driven by strong performance from key titles and the Zynga acquisition.
Key Takeaways
Take-Two Interactive Software, Inc. reported a 56% increase in GAAP net revenue to $1.45 billion for the fourth quarter of fiscal year 2023. Net Bookings grew 65% to $1.39 billion. The largest contributors to revenue were NBA 2K23 and NBA 2K22; Grand Theft Auto Online and Grand Theft Auto V; our hyper-casual mobile portfolio; Empires & Puzzles™; Toon Blast™; Red Dead Redemption® 2 and Red Dead Online; Merge Dragons!™; Words With Friends™; and Zynga Poker™.
GAAP net revenue increased 56% to $1.45 billion compared to the previous year's fiscal fourth quarter.
Net Bookings grew by 65% to $1.39 billion, driven by Grand Theft Auto V and Grand Theft Auto Online, Red Dead Redemption 2, and Zynga’s mobile portfolio.
Recurrent consumer spending increased 94% and accounted for 79% of total GAAP net revenue.
Digitally-delivered GAAP net revenue increased 67% to $1.39 billion, accounting for 96% of total GAAP net revenue.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Take-Two provided its initial outlook for fiscal year 2024, expecting GAAP net revenue to range from $5.37 to $5.47 billion and Net Bookings to range from $5.45 to $5.55 billion. For the first quarter of fiscal 2024, GAAP net revenue is expected to range from $1.21 to $1.26 billion and Net Bookings are expected to range from $1.15 to $1.2 billion.
Positive Outlook
- Fiscal Year 2024 GAAP net revenue is expected to range from $5.37 to $5.47 billion
- Fiscal Year 2024 Net Bookings are expected to range from $5.45 to $5.55 billion
- Fiscal First Quarter 2024 GAAP net revenue is expected to range from $1.21 to $1.26 billion
- Fiscal First Quarter 2024 Net Bookings are expected to range from $1.15 to $1.2 billion
- EBITDA (Non-GAAP) is expected to range from $82 to $103 million
Challenges Ahead
- GAAP net loss is expected to range from $518 to $477 million
- GAAP net loss per share is expected to range from $3.05 to $2.80
- Net cash provided by operating activities is expected to be approximately $90 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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