• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    Take-Two Interactive Software, Inc. Reports Results for Fiscal Second Quarter 2025

    11/6/24 4:05:00 PM ET
    $TTWO
    Computer Software: Prepackaged Software
    Technology
    Get the next $TTWO alert in real time by email

    $1.47 billion Net Bookings with outperformance from Grand Theft Auto and Borderlands franchises

    Company updates fiscal year 2025 outlook and reiterates expectation for Net Bookings of $5.55 to $5.65 billion

    Take-Two Interactive Software, Inc. (NASDAQ:TTWO) today reported results for the second quarter of its fiscal year 2025, ended September 30, 2024. For further information, please see the second quarter fiscal 2025 results slide deck posted to the Company's investor relations website at take2games.com/ir.

    Management Comments

    "I am pleased to report that we delivered strong second quarter results. Our Net Bookings of $1.47 billion were at the top of our guidance range, driven by the continued success of the Grand Theft Auto and Borderlands franchises, and our operating results surpassed our plans, largely due to a shift in the timing of marketing expenses within the year," said Strauss Zelnick, Chairman and CEO of Take-Two Interactive.

    "Our execution has been consistent, and our teams continue to make great progress advancing our development pipeline. Accordingly, we are reiterating our fiscal year 2025 Net Bookings guidance range of $5.55 to $5.65 billion, and we are confident that we will achieve sequential increases and record levels of Net Bookings in fiscal years 2026 and 2027."

    "As we look ahead, we believe that Take-Two remains exceedingly well-positioned for the long-term. Our vision is clear, our talent is unparalleled, and we have one of the strongest portfolios of owned intellectual property in our industry. With many exciting new titles coming in Fiscal 2026 – including Grand Theft Auto VI in the fall, Borderlands 4 and Mafia: The Old Country – we expect to create long-term value for our shareholders."

    Second Quarter Fiscal 2025 Financial and Operational Highlights

    • Total Net Bookings* grew 2% to $1.47 billion, as compared to $1.44 billion during last year's fiscal second quarter.
      • Net Bookings from recurrent consumer spending** grew 6% and accounted for 81% of total Net Bookings.
      • The largest contributors to Net Bookings were NBA® 2K25 and NBA 2K24, Grand Theft Auto® Online and Grand Theft Auto V, Toon Blast™, our hyper-casual mobile portfolio, Match Factory!™, Empires & Puzzles™, Words With Friends™, Red Dead Redemption® 2 and Red Dead Online, and Toy Blast™.
    • GAAP net revenue increased 4% to $1.35 billion, as compared to $1.30 billion in last year's fiscal second quarter.
      • Recurrent consumer spending** increased 8% and accounted for 80% of total GAAP net revenue.
      • The largest contributors to GAAP net revenue were NBA 2K24 and NBA 2K25, Grand Theft Auto Online and Grand Theft Auto V, Toon Blast, Empires & Puzzles, Match Factory!, our hyper-casual mobile portfolio, Red Dead Redemption 2 and Red Dead Online, Words With Friends, and Merge Dragons!.
    • GAAP net loss was $365.5 million, or $2.08 per share, as compared to $543.6 million, or $3.20 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.

    Second Quarter Fiscal 2025 Financial Results

    The following data is used internally by the Company's management and Board of Directors to adjust the Company's GAAP and Non-GAAP financial results in order to facilitate comparison of its operating performance between periods and to better understand its core business:

     

     

    Three Months Ended September 30, 2024

     

     

     

     

    Financial Data

    in millions

     

    Statement of

    Operations

     

    Change in deferred

    net revenue and

    related cost of

    revenue

     

    Stock-based

    compensation

     

    Amortization

    of acquired

    intangibles

     

    Business

    reorganization

     

    Business

    acquisition

     

    Other (a)

    GAAP

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Total net revenue

     

    $1,353.1

     

    121.9

     

     

     

     

     

     

     

     

     

     

    Cost of revenue

     

    625.2

     

    11.5

     

    (3.1)

     

    (174.1)

     

     

     

     

     

     

    Gross profit

     

    727.9

     

    110.4

     

    3.1

     

    174.1

     

     

     

     

     

     

    Operating expenses

     

    1,025.1

     

     

     

    (83.1)

     

    (17.9)

     

    (16.8)

     

    (53.7)

     

     

    (Loss) income from operations

     

    (297.2)

     

    110.4

     

    86.2

     

    192.0

     

    16.8

     

    53.7

     

     

    Interest and other, net

     

    (25.9)

     

    (1.5)

     

     

     

     

     

     

     

    2.2

     

    5.2

    (Loss) gain on fair value adjustments, net

     

    (1.2)

     

     

     

     

     

     

     

     

     

    0.4

     

    0.8

    (Loss) income before income taxes

     

    (324.3)

     

    108.9

     

    86.2

     

    192.0

     

    16.8

     

    56.3

     

    6.0

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Non-GAAP

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    EBITDA

     

    (75.5)

     

    110.4

     

    86.2

     

     

     

    16.8

     

    52.7

     

    6.0

    Note: For management reporting purposes, the table above assumes a management tax rate of 18% and a fully diluted share count of 177.1 million in order to calculate diluted net income per share.

    (a) Other includes adjustments for (i) the revaluation of the Turkish Lira against the U.S. Dollar and (ii) fair value adjustments related to certain equity investments.

    Outlook for Fiscal Year 2025

    Take-Two is revising its outlook for the fiscal year ending March 31, 2025 and providing its initial outlook for its fiscal third quarter ending December 31, 2024:

    Fiscal Year Ending March 31, 2025

    The Company is also providing selected data, which is used internally by its management and Board of Directors to adjust the Company's GAAP and Non-GAAP financial outlook in order to facilitate comparison of its operating performance between periods and to better understand its core business and future outlook:

     

     

    Fiscal Year Ending March 31, 2025

     

     

     

     

    Financial Data

    $ in millions except for per share amounts

     

    Outlook (1)

     

    Change in

    deferred net

    revenue and

    related cost of

    revenue

     

    Stock-based

    compensation

     

    Amortization of

    acquired

    intangibles

     

    Business

    reorganization

    and other (a)

    GAAP

     

     

     

     

     

     

     

     

     

     

    Total net revenue

     

    $5,570 to $5,670

     

    $(20)

     

     

     

     

     

     

    Cost of revenue

     

    $2,397 to $2,422

     

    $10

     

    $(14)

     

    $(681)

     

     

    Operating expenses

     

    $3,772 to $3,792

     

     

     

    $(320)

     

    $(71)

     

    $(151)

    Interest and other, net

     

    $120

     

     

     

     

     

     

     

    $(20)

    (Loss) income before income taxes

     

    $(719) to $(664)

     

    $(30)

     

    $334

     

    $752

     

    $171

    Net loss

     

    $(839) to $(775)

     

     

     

     

     

     

     

     

    Net loss per share

     

    $(4.80) to $(4.43)

     

     

     

     

     

     

     

     

    Net cash provided by operating activities

     

    approximately $(200)

     

     

     

     

     

     

     

     

    Capital expenditures

     

    approximately $140

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Non-GAAP

     

     

     

     

     

     

     

     

     

     

    EBITDA

     

    $282 to $336

     

    $(30)

     

    $334

     

     

     

    $151

    Adjusted Unrestricted Operating Cash Flow

     

    approximately $(150)

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Operational metric

     

     

     

     

     

     

     

     

     

     

    Net Bookings

     

    $5,550 to $5,650

     

     

     

     

     

     

     

     

    • Management reporting tax rate anticipated to be 18%
    • Share count used to calculate GAAP net loss per share is expected to be 174.9 million
    • Share count used to calculate management reporting diluted net income per share is expected to be 177.4 million

    (a) Other includes adjustments for (i) business acquisition expenses, (ii) the revaluation of the Turkish Lira against the U.S. Dollar, and (iii) fair value adjustments related to certain equity investments.

    Fiscal Third Quarter Ending December 31, 2024

    The Company is also providing selected data, which is used internally by its management and Board of Directors to adjust the Company's GAAP and Non-GAAP financial outlook in order to facilitate comparison of its operating performance between periods and to better understand its core business and future outlook:

     

     

    Three Months Ending December 31, 2024

     

     

     

     

    Financial Data

    $ in millions except for per share amounts

     

    Outlook (1)

     

    Change in deferred

    net revenue and

    related cost of

    revenue

     

    Stock-based

    compensation

     

    Amortization of

    acquired

    intangibles

     

    Business

    reorganization

    and business

    acquisition

    GAAP

     

     

     

     

     

     

     

     

     

     

    Total net revenue

     

    $1,360 to $1,410

     

    $(10)

     

     

     

     

     

     

    Cost of revenue

     

    $591 to $610

     

    $(5)

     

    $(2)

     

    $(171)

     

     

    Operating expenses

     

    $913 to $923

     

     

     

    $(83)

     

    $(18)

     

    $(12)

    Interest and other, net

     

    $30

     

     

     

     

     

     

     

    $(2)

    (Loss) income before income taxes

     

    $(174) to $(153)

     

    $(5)

     

    $85

     

    $189

     

    $14

    Net loss

     

    $(202) to $(177)

     

     

     

     

     

     

     

     

    Net loss per share

     

    $(1.15) to $(1.01)

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Non-GAAP

     

     

     

     

     

     

     

     

     

     

    EBITDA

     

    $78 to $100

     

    $(5)

     

    $85

     

     

     

    $12

     

     

     

     

     

     

     

     

     

     

     

    Operational metric

     

     

     

     

     

     

     

     

     

     

    Net Bookings

     

    $1,350 to $1,400

     

     

     

     

     

     

     

     

    • Management reporting tax rate anticipated to be 18%
    • Share count used to calculate GAAP net loss per share is expected to be 174.5 million
    • Share count used to calculate management reporting diluted net income per share is expected to be 178.2 million
    1)

    The individual components of the financial outlook may not foot to the totals, as the Company does not expect actual results for every component to be at the low end or high end of the outlook range simultaneously.

    Key assumptions and dependencies underlying the Company's outlook include: a continuation of the current economic backdrop; the timely delivery of the titles included in this financial outlook; continued growth in the installed base of PlayStation 5 and Xbox Series X|S, as well as engagement on Xbox One and PlayStation 4; the ability to develop and publish products that capture market share for these current generation systems while also leveraging opportunities on PC, mobile and other platforms; factors affecting our performance on mobile, such as player acquisition costs; our ongoing focus on our live services portfolio and new game pipeline; and stable foreign exchange rates. See also "Cautionary Note Regarding Forward Looking Statements" below.

    Product Releases

    The following have been released since July 1, 2024:

    Label

    Product

    Platforms

    Release Date

    Zynga

    Game of Thrones: Legends

    iOs, Android

    July 25, 2024

    2K

    NBA 2K25

    PS5, PS4, Xbox Series X|S Xbox One, PC, Switch

    September 6, 2024

    Rockstar Games

    Red Dead Redemption and Undead Nightmare

    PC

    October 29, 2024

    Take-Two's future lineup announced to-date includes:

    Label

    Product

    Platforms

    Release Date

    2K

    Sid Meier's Civilization VII

    PS5, PS4, Xbox Series X|S, Xbox One, PC, Switch

    February 11, 2025

    2K

    WWE 2K25

    TBA

    Q4 Fiscal 2025

    Rockstar Games

    Grand Theft Auto VI

    PS5, Xbox Series X|S

    Fall of calendar 2025

    2K

    Borderlands 4

    PS5, Xbox Series X|S, PC

    Fiscal 2026

    2K

    Mafia: The Old Country

    PS5, Xbox Series X|S, PC

    Fiscal 2026

    Zynga

    CSR Racing 3

    iOS, Android

    TBA

    Ghost Story Games

    Judas

    PS5, Xbox Series X|S, PC

    TBA

    Conference Call

    Take-Two will host a conference call today at 4:30 p.m. Eastern Time to review these results and discuss other topics. The call can be accessed by dialing (800) 245-3047 or (203) 518-9765 (conference ID; TAKETWO). A live listen-only webcast of the call will be available by visiting http://ir.take2games.com and a replay will be available following the call at the same location.

    Non-GAAP Financial Measures

    In addition to reporting financial results in accordance with U.S. generally accepted accounting principles (GAAP), the Company uses Non-GAAP measures of financial performance: Adjusted Unrestricted Operating Cash Flow, which is defined as GAAP net cash from operating activities, adjusted for changes in restricted cash, and EBITDA, which is defined as GAAP net income (loss) excluding interest income (expense), provision for (benefit from) income taxes, depreciation expense, and amortization and impairment of acquired intangibles.

    The Company's management believes it is important to consider Adjusted Unrestricted Operating Cash Flow, in addition to net cash from operating activities, as it provides more transparency into current business trends without regard to the timing of payments from restricted cash, which is primarily related to a dedicated account limited to the payment of certain internal royalty obligations.

    The Company's management believes it is important to consider EBITDA, in addition to net income, as it removes the effect of certain non-cash expenses, debt-related charges, and income taxes. Management believes that, when considered together with reported amounts, EBITDA is useful to investors and management in understanding the Company's ongoing operations and in analysis of ongoing operating trends and provides useful additional information relating to the Company's operations and financial condition.

    These Non-GAAP financial measures are not intended to be considered in isolation from, as a substitute for, or superior to, GAAP results. These Non-GAAP financial measures may be different from similarly titled measures used by other companies. In the future, Take-Two may also consider whether other items should also be excluded in calculating these Non-GAAP financial measures used by the Company. Management believes that the presentation of these Non-GAAP financial measures provides investors with additional useful information to measure Take-Two's financial and operating performance. In particular, these measures facilitate comparison of our operating performance between periods and may help investors to understand better the operating results of Take-Two. Internally, management uses these Non-GAAP financial measures in assessing the Company's operating results and in planning and forecasting. A reconciliation of these Non-GAAP financial measures to the most comparable GAAP measure is contained in the financial tables to this press release.

    Final Results

    The financial results discussed herein are presented on a preliminary basis; final data will be included in Take-Two's Quarterly Report on Form 10−Q for the period ended September 30, 2024.

    About Take-Two Interactive Software

    Headquartered in New York City, Take-Two Interactive Software, Inc. is a leading developer, publisher, and marketer of interactive entertainment for consumers around the globe. We develop and publish products principally through Rockstar Games, 2K, and Zynga. Our products are designed for console gaming systems, PC, and mobile, including smartphones and tablets. We deliver our products through physical retail, digital download, online platforms, and cloud streaming services. The Company's common stock is publicly traded on NASDAQ under the symbol TTWO. For more corporate and product information please visit our website at http://www.take2games.com.

    All trademarks and copyrights contained herein are the property of their respective holders.

    Cautionary Note Regarding Forward-Looking Statements

    The statements contained herein, which are not historical facts, including statements relating to Take-Two Interactive Software, Inc.'s ("Take-Two," the "Company," "we," "us," or similar pronouns) outlook, are considered forward-looking statements under federal securities laws and may be identified by words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "potential," "predicts," "projects," "seeks," "should," "will," or words of similar meaning and include, but are not limited to, statements regarding the outlook for our future business and financial performance. Such forward-looking statements are based on the current beliefs of our management as well as assumptions made by and information currently available to them, which are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Actual outcomes and results may vary materially from these forward-looking statements based on a variety of risks and uncertainties including risks relating to our combination with Zynga Inc.; the risks of conducting business internationally, including as a result of unforeseen geopolitical events; the impact of changes in interest rates by the Federal Reserve and other central banks, including on our short-term investment portfolio; the impact of inflation; volatility in foreign currency exchange rates; our dependence on key management and product development personnel; our dependence on our NBA 2K and Grand Theft Auto products and our ability to develop other hit titles; our ability to leverage opportunities on PlayStation®5 and Xbox Series X|S; factors affecting our mobile business, such as player acquisition costs; the timely release and significant market acceptance of our games; and the ability to maintain acceptable pricing levels on our games.

    Other important factors and information are contained in the Company's most recent Annual Report on Form 10-K, including the risks summarized in the section entitled "Risk Factors," the Company's most recent Quarterly Report on Form 10-Q, and the Company's other periodic filings with the SEC, which can be accessed at www.take2games.com. All forward-looking statements are qualified by these cautionary statements and apply only as of the date they are made. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

    TAKE-TWO INTERACTIVE SOFTWARE, INC.

    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

    (in millions, except per share amounts)

     

     

     

     

     

     

     

     

     

     

     

    Three Months Ended September 30,

     

    Six Months Ended September 30,

     

     

     

    2024

     

     

     

    2023

     

     

     

    2024

     

     

     

    2023

     

    Net revenue:

     

     

     

     

     

     

     

     

    Game

     

    $

    1,233.9

     

     

    $

    1,128.6

     

     

    $

    2,450.6

     

     

    $

    2,224.7

     

    Advertising

     

     

    119.2

     

     

     

    170.6

     

     

     

    240.7

     

     

     

    359.2

     

    Total net revenue

     

     

    1,353.1

     

     

     

    1,299.2

     

     

     

    2,691.3

     

     

     

    2,583.9

     

    Cost of revenue:

     

     

     

     

     

     

     

     

    Product costs

     

     

    212.5

     

     

     

    175.7

     

     

     

    415.8

     

     

     

    354.6

     

    Game intangibles

     

     

    173.4

     

     

     

    409.4

     

     

     

    336.9

     

     

     

    596.3

     

    Software development costs and royalties

     

     

    64.9

     

     

     

    83.1

     

     

     

    141.1

     

     

     

    198.8

     

    Internal royalties

     

     

    77.2

     

     

     

    112.8

     

     

     

    146.2

     

     

     

    185.4

     

    Licenses

     

     

    97.2

     

     

     

    102.8

     

     

     

    152.3

     

     

     

    154.2

     

    Total cost of revenue

     

     

    625.2

     

     

     

    883.8

     

     

     

    1,192.3

     

     

     

    1,489.3

     

    Gross profit

     

     

    727.9

     

     

     

    415.4

     

     

     

    1,499.0

     

     

     

    1,094.6

     

    Selling and marketing

     

     

    461.3

     

     

     

    334.6

     

     

     

    892.7

     

     

     

    734.0

     

    Research and development

     

     

    246.7

     

     

     

    232.1

     

     

     

    466.5

     

     

     

    470.7

     

    General and administrative

     

     

    253.0

     

     

     

    178.3

     

     

     

    463.5

     

     

     

    376.2

     

    Depreciation and amortization

     

     

    47.3

     

     

     

    45.3

     

     

     

    92.1

     

     

     

    85.7

     

    Goodwill impairment

     

     

    —

     

     

     

    165.4

     

     

     

    —

     

     

     

    165.4

     

    Business reorganization

     

     

    16.8

     

     

     

    3.4

     

     

     

    66.3

     

     

     

    10.6

     

    Total operating expenses

     

     

    1,025.1

     

     

     

    959.1

     

     

     

    1,981.1

     

     

     

    1,842.6

     

    Loss from operations

     

     

    (297.2

    )

     

     

    (543.7

    )

     

     

    (482.1

    )

     

     

    (748.0

    )

    Interest and other, net

     

     

    (25.9

    )

     

     

    (31.1

    )

     

     

    (50.1

    )

     

     

    (56.5

    )

    Loss on fair value adjustments, net

     

     

    (1.2

    )

     

     

    (2.2

    )

     

     

    (4.3

    )

     

     

    (1.4

    )

    Loss before income taxes

     

     

    (324.3

    )

     

     

    (577.0

    )

     

     

    (536.5

    )

     

     

    (805.9

    )

    Provision for (benefit from) income taxes

     

     

    41.2

     

     

     

    (33.4

    )

     

     

    91.0

     

     

     

    (56.3

    )

    Net loss

     

    $

    (365.5

    )

     

    $

    (543.6

    )

     

    $

    (627.5

    )

     

    $

    (749.6

    )

     

     

     

     

     

     

     

     

     

    Loss per share:

     

     

     

     

     

     

     

     

    Basic and diluted loss per share

     

    $

    (2.08

    )

     

    $

    (3.20

    )

     

    $

    (3.61

    )

     

    $

    (4.42

    )

    Weighted average shares outstanding

     

     

     

     

     

     

     

     

    Basic

     

     

    175.4

     

     

     

    169.9

     

     

     

    173.8

     

     

     

    169.6

     

    TAKE-TWO INTERACTIVE SOFTWARE, INC.

    CONDENSED CONSOLIDATED BALANCE SHEETS

    (in millions, except per share amounts)

     

     

     

    September 30, 2024

     

    March 31, 2024

     

     

    (Unaudited)

     

     

    ASSETS

     

     

     

     

    Current assets:

     

     

     

     

    Cash and cash equivalents

     

    $

    876.1

     

     

    $

    754.0

     

    Short-term investments

     

     

    3.5

     

     

     

    22.0

     

    Restricted cash and cash equivalents

     

     

    357.5

     

     

     

    252.1

     

    Accounts receivable, net of allowances of $1.3 and $1.2 at September 30, 2024 and March 31, 2024, respectively

     

     

    858.9

     

     

     

    679.7

     

    Software development costs and licenses

     

     

    96.9

     

     

     

    88.3

     

    Contract assets

     

     

    79.4

     

     

     

    85.0

     

    Prepaid expenses and other

     

     

    433.4

     

     

     

    378.6

     

    Total current assets

     

     

    2,705.7

     

     

     

    2,259.7

     

    Fixed assets, net

     

     

    433.5

     

     

     

    411.1

     

    Right-of-use assets

     

     

    336.6

     

     

     

    325.7

     

    Software development costs and licenses, net of current portion

     

     

    1,731.2

     

     

     

    1,446.5

     

    Goodwill

     

     

    4,648.7

     

     

     

    4,426.4

     

    Other intangibles, net

     

     

    2,896.5

     

     

     

    3,060.6

     

    Long-term restricted cash and cash equivalents

     

     

    86.0

     

     

     

    95.9

     

    Other assets

     

     

    237.1

     

     

     

    191.0

     

    Total assets

     

    $

    13,075.3

     

     

    $

    12,216.9

     

    LIABILITIES AND STOCKHOLDERS' EQUITY

     

     

     

     

    Current liabilities:

     

     

     

     

    Accounts payable

     

    $

    177.1

     

     

    $

    195.9

     

    Accrued expenses and other current liabilities

     

     

    1,300.3

     

     

     

    1,062.6

     

    Deferred revenue

     

     

    1,064.9

     

     

     

    1,059.5

     

    Lease liabilities

     

     

    59.0

     

     

     

    63.8

     

    Short-term debt, net

     

     

    599.2

     

     

     

    24.6

     

    Total current liabilities

     

     

    3,200.5

     

     

     

    2,406.4

     

    Long-term debt, net

     

     

    3,055.9

     

     

     

    3,058.3

     

    Non-current deferred revenue

     

     

    34.7

     

     

     

    42.9

     

    Non-current lease liabilities

     

     

    398.3

     

     

     

    387.3

     

    Non-current software development royalties

     

     

    91.2

     

     

     

    102.1

     

    Deferred tax liabilities, net

     

     

    281.9

     

     

     

    340.9

     

    Other long-term liabilities

     

     

    214.3

     

     

     

    211.1

     

    Total liabilities

     

    $

    7,276.8

     

     

    $

    6,549.0

     

    Stockholders' equity:

     

     

     

     

    Preferred stock, $0.01 par value, 5.0 shares authorized; no shares issued and outstanding at September 30, 2024 and March 31, 2024

     

     

    —

     

     

     

    —

     

    Common stock, $0.01 par value, 300.0 and 300.0 shares authorized; 199.2 and 194.5 shares issued and 175.5 and 170.8 outstanding at September 30, 2024 and March 31, 2024, respectively

     

     

    2.0

     

     

     

    1.9

     

    Additional paid-in capital

     

     

    10,063.4

     

     

     

    9,371.6

     

    Treasury stock, at cost; 23.7 and 23.7 common shares at September 30, 2024 and March 31, 2024, respectively

     

     

    (1,020.6

    )

     

     

    (1,020.6

    )

    Accumulated deficit

     

     

    (3,207.4

    )

     

     

    (2,579.9

    )

    Accumulated other comprehensive loss

     

     

    (38.9

    )

     

     

    (105.1

    )

    Total stockholders' equity

     

    $

    5,798.5

     

     

    $

    5,667.9

     

    Total liabilities and stockholders' equity

     

    $

    13,075.3

     

     

    $

    12,216.9

    TAKE-TWO INTERACTIVE SOFTWARE, INC.

    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

    (in millions)

     

     

     

     

     

     

     

    Six Months Ended September 30,

     

     

     

    2024

     

     

     

    2023

     

    Operating activities:

     

     

     

     

    Net loss

     

    $

    (627.5

    )

     

    $

    (749.6

    )

    Adjustments to reconcile net loss to net cash provided by operating activities:

     

     

     

     

    Amortization and impairment of software development costs and licenses

     

     

    139.6

     

     

     

    108.1

     

    Stock-based compensation

     

     

    161.5

     

     

     

    169.1

     

    Noncash lease expense

     

     

    31.3

     

     

     

    32.7

     

    Amortization and impairment of intangibles

     

     

    374.1

     

     

     

    676.8

     

    Depreciation

     

     

    74.0

     

     

     

    67.9

     

    Goodwill impairment

     

     

    —

     

     

     

    165.4

     

    Interest expense

     

     

    80.4

     

     

     

    71.4

     

    Gain on debt extinguishment

     

     

    —

     

     

     

    (7.7

    )

    Fair value adjustments

     

     

    4.3

     

     

     

    1.4

     

    Other, net

     

     

    5.9

     

     

     

    28.8

     

    Changes in assets and liabilities, net of effect from purchases of businesses:

     

     

     

     

    Accounts receivable

     

     

    (169.6

    )

     

     

    (52.2

    )

    Software development costs and licenses

     

     

    (362.8

    )

     

     

    (300.7

    )

    Prepaid expenses and other current and other non-current assets

     

     

    22.1

     

     

     

    (44.5

    )

    Deferred revenue

     

     

    (4.6

    )

     

     

    65.3

     

    Accounts payable, accrued expenses and other liabilities

     

     

    (48.1

    )

     

     

    (162.4

    )

    Net cash (used in) provided by operating activities

     

     

    (319.4

    )

     

     

    69.8

     

    Investing activities:

     

     

     

     

    Change in bank time deposits

     

     

    18.5

     

     

     

    12.5

     

    Sale and maturities of available-for-sale securities

     

     

    —

     

     

     

    131.0

     

    Purchases of fixed assets

     

     

    (71.9

    )

     

     

    (59.9

    )

    Purchases of long-term investments

     

     

    (14.7

    )

     

     

    (6.5

    )

    Business acquisitions

     

     

    9.4

     

     

     

    (13.0

    )

    Other

     

     

    (9.3

    )

     

     

    (3.8

    )

    Net cash (used in) provided by investing activities

     

     

    (68.0

    )

     

     

    60.3

     

    Financing activities:

     

     

     

     

    Tax payment related to net share settlements on restricted stock awards

     

     

    —

     

     

     

    (57.1

    )

    Issuance of common stock

     

     

    23.8

     

     

     

    18.8

     

    Payment for settlement of convertible notes

     

     

    (8.3

    )

     

     

    —

     

    Proceeds from issuance of debt

     

     

    598.9

     

     

     

    999.3

     

    Cost of debt

     

     

    (5.4

    )

     

     

    (7.5

    )

    Repayment of debt

     

     

    —

     

     

     

    (989.6

    )

    Payment of contingent earn-out consideration

     

     

    (12.0

    )

     

     

    (35.0

    )

    Net cash provided by (used in) financing activities

     

     

    597.0

     

     

     

    (71.1

    )

    Effects of foreign currency exchange rates on cash, cash equivalents, and restricted cash and cash equivalents

     

     

    8.0

     

     

     

    (7.4

    )

    Net change in cash, cash equivalents, and restricted cash and cash equivalents

     

     

    217.6

     

     

     

    51.6

     

    Cash, cash equivalents, and restricted cash and cash equivalents, beginning of year (1)

     

     

    1,102.0

     

     

     

    1,234.6

     

    Cash, cash equivalents, and restricted cash and cash equivalents, end of period (1)

     

    $

    1,319.6

     

     

    $

    1,286.2

     

    (1) Cash, cash equivalents and restricted cash and cash equivalents shown on our Condensed Consolidated Statements of Cash Flow includes amounts in the Cash and cash equivalents, Restricted cash and cash equivalents, and Long-term restricted cash and cash equivalents on our Condensed Consolidated Balance Sheet.

    TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES

    Net Revenue and Net Bookings by Geographic Region, Distribution Channel, and Platform Mix

    (in millions)

     

     

     

    Three Months Ended

    September 30, 2024

     

    Three Months Ended

    September 30, 2023

     

     

    Amount

     

    % of total

     

    Amount

     

    % of total

    Net revenue by geographic region

     

     

     

     

     

     

     

     

    United States

     

    $

    814.5

     

    60

    %

     

    $

    795.6

     

    61

    %

    International

     

     

    538.6

     

    40

    %

     

     

    503.6

     

    39

    %

    Total Net revenue

     

    $

    1,353.1

     

    100

    %

     

    $

    1,299.2

     

    100

    %

     

     

     

     

     

     

     

     

     

    Net Bookings by geographic region

     

     

     

     

     

     

     

     

    United States

     

    $

    914.4

     

    62

    %

     

    $

    915.8

     

    63

    %

    International

     

     

    560.5

     

    38

    %

     

     

    529.1

     

    37

    %

    Total Net Bookings

     

    $

    1,474.9

     

    100

    %

     

    $

    1,444.9

     

    100

    %

     

     

     

     

     

     

     

     

     

    Three Months Ended

    September 30, 2024

     

    Three Months Ended

    September 30, 2023

     

     

    Amount

     

    % of total

     

    Amount

     

    % of total

    Net revenue by distribution channel

     

     

     

     

     

     

     

     

    Digital online

     

    $

    1,300.0

     

    96

    %

     

    $

    1,239.7

     

    95

    %

    Physical retail and other

     

     

    53.1

     

    4

    %

     

     

    59.5

     

    5

    %

    Total Net revenue

     

    $

    1,353.1

     

    100

    %

     

    $

    1,299.2

     

    100

    %

     

     

     

     

     

     

     

     

     

    Net Bookings by distribution channel

     

     

     

     

     

     

     

     

    Digital online

     

    $

    1,417.2

     

    96

    %

     

    $

    1,371.6

     

    95

    %

    Physical retail and other

     

     

    57.7

     

    4

    %

     

     

    73.3

     

    5

    %

    Total Net Bookings

     

    $

    1,474.9

     

    100

    %

     

    $

    1,444.9

     

    100

    %

     

     

     

     

     

     

     

     

     

    Three Months Ended

    September 30, 2024

     

    Three Months Ended

    September 30, 2023

     

     

    Amount

     

    % of total

     

    Amount

     

    % of total

    Net revenue by platform

     

     

     

     

     

     

     

     

    Mobile

     

    $

    740.2

     

    55

    %

     

    $

    646.2

     

    50

    %

    Console

     

     

    491.1

     

    36

    %

     

     

    546.7

     

    42

    %

    PC and other

     

     

    121.8

     

    9

    %

     

     

    106.3

     

    8

    %

    Total Net revenue

     

    $

    1,353.1

     

    100

    %

     

    $

    1,299.2

     

    100

    %

     

     

     

     

     

     

     

     

     

    Net Bookings by platform

     

     

     

     

     

     

     

     

    Mobile

     

    $

    723.0

     

    49

    %

     

    $

    661.9

     

    46

    %

    Console

     

     

    622.3

     

    42

    %

     

     

    678.9

     

    47

    %

    PC and other

     

     

    129.6

     

    9

    %

     

     

    104.1

     

    7

    %

    Total Net Bookings

     

    $

    1,474.9

     

    100

    %

     

    $

    1,444.9

     

    100

    %

    TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES

    Net Revenue and Net Bookings by Geographic Region, Distribution Channel, and Platform Mix

    (in millions)

     

     

     

    Six Months Ended

    September 30, 2024

     

    Six Months Ended

    September 30, 2023

     

     

    Amount

     

    % of total

     

    Amount

     

    % of total

    Net revenue by geographic region

     

     

     

     

     

     

     

     

    United States

     

    $

    1,635.0

     

    61

    %

     

    $

    1,599.5

     

    62

    %

    International

     

     

    1,056.3

     

    39

    %

     

     

    984.4

     

    38

    %

    Total Net revenue

     

    $

    2,691.3

     

    100

    %

     

    $

    2,583.9

     

    100

    %

     

     

     

     

     

     

     

     

     

    Net Bookings by geographic region

     

     

     

     

     

     

     

     

    United States

     

    $

    1,642.9

     

    61

    %

     

    $

    1,642.0

     

    62

    %

    International

     

     

    1,050.2

     

    39

    %

     

     

    1,004.5

     

    38

    %

    Total Net Bookings

     

    $

    2,693.1

     

    100

    %

     

    $

    2,646.5

     

    100

    %

     

     

     

     

     

     

     

     

     

    Six Months Ended

    September 30, 2024

     

    Six Months Ended

    September 30, 2023

     

     

    Amount

     

    % of total

     

    Amount

     

    % of total

    Net revenue by distribution channel

     

     

     

     

     

     

     

     

    Digital online

     

    $

    2,595.5

     

    96

    %

     

    $

    2,479.7

     

    96

    %

    Physical retail and other

     

     

    95.8

     

    4

    %

     

     

    104.2

     

    4

    %

    Total Net revenue

     

    $

    2,691.3

     

    100

    %

     

    $

    2,583.9

     

    100

    %

     

     

     

     

     

     

     

     

     

    Net Bookings by distribution channel

     

     

     

     

     

     

     

     

    Digital online

     

    $

    2,604.5

     

    97

    %

     

    $

    2,537.3

     

    96

    %

    Physical retail and other

     

     

    88.6

     

    3

    %

     

     

    109.2

     

    4

    %

    Total Net Bookings

     

    $

    2,693.1

     

    100

    %

     

    $

    2,646.5

     

    100

    %

     

     

     

     

     

     

     

     

     

    Six Months Ended

    September 30, 2024

     

    Six Months Ended

    September 30, 2023

     

     

    Amount

     

    % of total

     

    Amount

     

    % of total

    Net revenue by platform

     

     

     

     

     

     

     

     

    Mobile

     

    $

    1,462.7

     

    55

    %

     

    $

    1,326.2

     

    51

    %

    Console

     

     

    1,000.0

     

    37

    %

     

     

    1,051.0

     

    41

    %

    PC and other

     

     

    228.6

     

    8

    %

     

     

    206.7

     

    8

    %

    Total Net revenue

     

    $

    2,691.3

     

    100

    %

     

    $

    2,583.9

     

    100

    %

     

     

     

     

     

     

     

     

     

    Net Bookings by platform

     

     

     

     

     

     

     

     

    Mobile

     

    $

    1,432.4

     

    53

    %

     

    $

    1,351.5

     

    52

    %

    Console

     

     

    1,027.7

     

    38

    %

     

     

    1,098.1

     

    41

    %

    PC and other

     

     

    233.0

     

    9

    %

     

     

    196.9

     

    7

    %

    Total Net Bookings

     

    $

    2,693.1

     

    100.0

    %

     

    $

    2,646.5

     

    100

    %

    TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES

    ADDITIONAL DATA

    (in millions)

     

    Three Months Ended September 30, 2024

    Net revenue

     

    Cost of

    revenue-

    Product costs

     

    Cost of

    revenue- Game

    intangibles

     

    Cost of revenue-

    Software development

    costs and royalties

     

    Cost of revenue-

    Internal

    royalties

     

    Cost of

    revenue-

    Licenses

     

     

    As reported

    $

    1,353.1

     

     

    $

    212.5

     

     

    $

    173.4

     

     

    $

    64.9

     

     

    $

    77.2

     

     

    $

    97.2

     

     

     

    Net effect from deferred revenue and related cost of revenue

     

    121.9

     

     

     

    0.8

     

     

     

     

     

    9.8

     

     

     

     

     

    0.9

     

     

     

    Stock-based compensation

     

     

     

     

     

     

     

    (3.1

    )

     

     

     

     

     

     

    Amortization and impairment of acquired intangibles

     

     

     

    (0.7

    )

     

     

    (173.4

    )

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Three Months Ended September 30, 2024

    Selling and

    marketing

     

    Research and

    development

     

    General and

    administrative

     

    Depreciation and

    amortization

     

    Business

    reorganization

     

    Interest and

    other, net

     

    (Loss) gain on

    fair value

    adjustments, net

    As reported

    $

    461.3

     

     

    $

    246.7

     

     

    $

    253.0

     

     

    $

    47.3

     

     

     

    16.8

     

     

    $

    (25.9

    )

     

    $

    (1.2

    )

    Net effect from deferred revenue and related cost of revenue

     

     

     

     

     

     

     

     

     

     

     

    (1.5

    )

     

     

    Stock-based compensation

     

    (24.5

    )

     

     

    (26.2

    )

     

     

    (32.4

    )

     

     

     

     

     

     

     

     

    Amortization and impairment of acquired intangibles

     

    (1.5

    )

     

     

    (7.2

    )

     

     

     

     

    (9.2

    )

     

     

     

     

     

     

    Acquisition related expenses

     

    (0.1

    )

     

     

    (0.7

    )

     

     

    (52.9

    )

     

     

     

     

     

     

    2.2

     

     

     

    0.4

     

    Impact of business reorganization

     

     

     

     

     

     

     

     

     

    (16.8

    )

     

     

     

     

    Other

     

     

     

     

     

     

     

     

     

     

     

    5.2

     

     

     

    0.8

     

    Three Months Ended September 30, 2023

    Net revenue

     

    Cost of revenue

    -Game

    intangibles

     

    Cost of revenue

    - Product costs

     

    Cost of revenue-

    Software development

    costs and royalties

     

    Cost of revenue-

    Internal

    royalties

     

    Cost of

    revenue-

    Licenses

     

    Selling and

    marketing

    As reported

    $

    1,299.2

     

     

    $

    409.4

     

     

    $

    175.7

     

     

    $

    83.1

     

     

    $

    112.8

     

     

    $

    102.8

     

     

    $

    334.6

     

    Net effect from deferred revenue and related cost of revenue

     

    145.7

     

     

     

     

     

    1.3

     

     

     

    9.7

     

     

     

     

     

    (1.3

    )

     

     

    Stock-based compensation

     

     

     

     

     

     

     

    (7.5

    )

     

     

     

     

     

     

    (24.3

    )

    Amortization and impairment of acquired intangibles

     

     

     

    (409.4

    )

     

     

     

     

     

     

     

     

     

     

    (1.6

    )

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Three Months Ended September 30, 2023

    Research and

    development

     

    General and

    administrative

     

    Depreciation

    and

    amortization

     

    Goodwill impairment

     

    Business

    reorganization

     

    Interest and

    other, net

     

    (Loss) gain on

    fair value

    adjustments, net

    As reported

    $

    232.1

     

     

    $

    178.3

     

     

    $

    45.3

     

     

    $

    165.4

     

     

    $

    3.4

     

     

    $

    (31.1

    )

     

    $

    (2.2

    )

    Net effect from deferred revenue and related cost of revenue

     

     

     

     

     

     

     

     

     

     

     

    1.2

     

     

     

    Stock-based compensation

     

    (28.9

    )

     

     

    (29.4

    )

     

     

     

     

     

     

     

     

     

     

    Amortization and impairment of acquired intangibles

     

    (7.2

    )

     

     

     

     

    (8.9

    )

     

     

     

     

     

     

     

     

    Acquisition related expenses

     

    (0.5

    )

     

     

    (2.7

    )

     

     

     

     

    (165.4

    )

     

     

     

     

    1.9

     

     

     

    1.7

     

    Impact of business reorganization

     

     

     

     

     

     

     

     

     

    (3.4

    )

     

     

     

     

    Other

     

     

     

     

     

     

     

     

     

     

     

    1.9

     

     

     

    0.3

     

    TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES

    ADDITIONAL DATA

    (in millions)

     

    Six Months Ended September 30, 2024

    Net revenue

     

    Cost of revenue -

    Game

    intangibles

     

    Cost of revenue -

    Product costs

     

    Cost of revenue-

    Software

    development

    costs and

    royalties

     

    Cost of revenue-

    Internal

    royalties

     

    Cost of revenue-

    Licenses

     

     

    As reported

    $

    2,691.3

     

     

    $

    336.9

     

     

    $

    415.8

     

     

    $

    141.1

     

     

    $

    146.2

     

     

    $

    152.3

     

     

     

    Net effect from deferred revenue and related cost of revenue

     

    1.8

     

     

     

     

     

    (2.4

    )

     

     

    1.2

     

     

     

     

     

    1.6

     

     

     

    Stock-based compensation

     

     

     

     

     

     

     

    (6.0

    )

     

     

     

     

     

     

    Amortization and impairment of acquired intangibles

     

     

     

    (336.9

    )

     

     

    (1.6

    )

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Six Months Ended September 30, 2024

    Selling and

    marketing

     

    Research and

    development

     

    General and

    administrative

     

    Depreciation

    and

    amortization

     

    Business

    reorganization

     

    Interest and

    other, net

     

    (Loss) gain on

    fair value

    adjustments, net

    As reported

    $

    892.7

     

     

    $

    466.5

     

     

    $

    463.5

     

     

    $

    92.1

     

     

    $

    66.3

     

     

    $

    (50.1

    )

     

    $

    (4.3

    )

    Net effect from deferred revenue and related cost of revenue

     

     

     

     

     

     

     

     

     

     

     

    (0.8

    )

     

     

    Stock-based compensation

     

    (45.7

    )

     

     

    (49.4

    )

     

     

    (60.4

    )

     

     

     

     

     

     

     

     

    Amortization and impairment of acquired intangibles

     

    (3.1

    )

     

     

    (14.3

    )

     

     

     

     

    (18.2

    )

     

     

     

     

     

     

    Impact of business reorganization

     

     

     

     

     

     

     

     

     

    (66.3

    )

     

     

     

     

    Acquisition related expenses

     

    (0.1

    )

     

     

    (0.7

    )

     

     

    (69.6

    )

     

     

     

     

     

     

    4.2

     

     

     

    1.1

     

    Other

     

     

     

     

     

     

     

     

     

     

     

    7.2

     

     

     

    3.2

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Six Months Ended September 30, 2023

    Net revenue

     

    Cost of revenue -

    Game

    intangibles

     

    Cost of revenue -

    Product costs

     

    Cost of goods

    revenue-

    Software

    development

    costs and royalties

     

    Cost of revenue -

    Internal

    royalties

     

    Cost of revenue -

    Licenses

     

    Selling and

    marketing

    As reported

    $

    2,583.9

     

     

    $

    596.3

     

     

    $

    354.6

     

     

    $

    198.8

     

     

    $

    185.4

     

     

    $

    154.2

     

     

    $

    734.0

     

    Net effect from deferred revenue and related cost of revenue

     

    62.5

     

     

     

     

     

    (1.0

    )

     

     

    4.5

     

     

     

     

     

    (0.7

    )

     

     

    Stock-based compensation

     

     

     

     

     

     

     

    (14.2

    )

     

     

     

     

     

     

    (48.9

    )

    Amortization and impairment of acquired intangibles

     

     

     

    (596.3

    )

     

     

     

     

     

     

     

     

     

     

    (47.9

    )

    Acquisition related expenses

     

     

     

     

     

     

     

     

     

     

     

    10.0

     

     

     

    (0.2

    )

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Six Months Ended September 30, 2023

    Research and

    development

     

    General and

    administrative

     

    Depreciation

    and

    amortization

     

    Goodwill

    impairment

     

    Business

    reorganization

     

    Interest and

    other, net

     

    (Loss) gain on

    fair value

    adjustments, net

    As reported

    $

    470.7

     

     

    $

    376.2

     

     

    $

    85.7

     

     

    $

    165.4

     

     

    $

    10.6

     

     

    $

    (56.5

    )

     

    $

    (1.4

    )

    Net effect from deferred revenue and related cost of revenue

     

     

     

     

     

     

     

     

     

     

     

    1.8

     

     

     

    Stock-based compensation

     

    (52.5

    )

     

     

    (53.5

    )

     

     

     

     

     

     

     

     

     

     

    Amortization and impairment of acquired intangibles

     

    (14.3

    )

     

     

     

     

    (17.9

    )

     

     

     

     

     

     

     

     

    Impact of business reorganization

     

     

     

     

     

     

     

     

     

    (10.6

    )

     

     

     

     

    Acquisition related expenses

     

    (2.2

    )

     

     

    (28.0

    )

     

     

     

     

    (165.4

    )

     

     

     

     

    (3.0

    )

     

     

    3.2

     

    Other

     

     

     

     

     

     

     

     

     

     

     

    15.8

     

     

     

    (2.0

    )

    TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES

     

     

     

     

    RECONCILIATION OF GAAP TO NON-GAAP MEASURE

     

     

     

     

    (in millions)

     

     

     

     

     

     

     

    Six Months Ended September 30,

     

     

     

    2024

     

     

     

    2023

     

    Net cash from operating activities

     

    $

    (319.4

    )

     

    $

    69.8

     

    Net change in Restricted cash (1)

     

     

    (94.5

    )

     

     

    (123.3

    )

    Adjusted Unrestricted Operating Cash Flow

     

    $

    (413.9

    )

     

    $

    (53.5

    )

     

     

     

     

     

     

     

    Six Months Ended September 30,

     

     

     

    2024

     

     

     

    2023

     

    Restricted cash beginning of period

     

    $

    348.0

     

     

    $

    407.2

     

    Restricted cash end of period

     

     

    443.5

     

     

     

    529.4

     

    Restricted cash related to acquisitions

     

     

    (1.0

    )

     

     

    1.1

     

    (1) Net change in Restricted cash

     

    $

    (94.5

    )

     

    $

    (123.3

    )

    TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES

     

     

     

    RECONCILIATION OF GAAP TO NON-GAAP MEASURE

     

     

     

    (in millions)

     

     

     

     

     

     

     

     

     

     

    Three Months Ended September 30,

    Six Months Ended September 30,

     

     

     

    2024

     

     

     

    2023

     

     

    2024

     

     

     

    2023

     

    Net loss

     

    $

    (365.5

    )

     

    $

    (543.6

    )

    $

    (627.5

    )

     

    $

    (749.6

    )

    Provision for (benefit from) income taxes

     

     

    41.2

     

     

     

    (33.4

    )

     

    91.0

     

     

     

    (56.3

    )

    Interest expense

     

     

    18.7

     

     

     

    21.0

     

     

    37.9

     

     

     

    33.7

     

    Depreciation and amortization

     

     

    47.3

     

     

     

    45.3

     

     

    92.1

     

     

     

    85.7

     

    Amortization of acquired intangibles

     

     

    182.8

     

     

     

    418.2

     

     

    356.0

     

     

     

    658.5

     

    Goodwill impairment

     

     

    —

     

     

     

    165.4

     

     

    —

     

     

     

    165.4

     

    EBITDA

     

    $

    (75.5

    )

     

    $

    72.9

     

    $

    (50.5

    )

     

    $

    137.4

     

    Outlook

     

     

     

     

    Fiscal Year Ending March 31, 2025

    Net loss

     

    $(839) to $(775)

    Provision for income taxes

     

    $120 to $110

    Interest expense

     

    $98

    Depreciation

     

    $151

    Amortization of acquired intangibles

     

    $752

    EBITDA

     

    $282 to $336

    Outlook

     

     

     

     

    Three Months Ended December 31, 2024

    Net loss

     

    $(202) to $(177)

    Provision for income taxes

     

    $27 to $24

    Interest expense

     

    $26

    Depreciation

     

    $38

    Amortization of acquired intangibles

     

    $189

    EBITDA

     

    $78 to $100

     

    View source version on businesswire.com: https://www.businesswire.com/news/home/20241106543274/en/

    Get the next $TTWO alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $TTWO

    DatePrice TargetRatingAnalyst
    2/19/2025$250.00Buy
    DA Davidson
    1/27/2025$175.00 → $230.00Buy → Neutral
    UBS
    1/27/2025$175.00 → $230.00Neutral → Buy
    UBS
    12/11/2024$200.00 → $225.00Buy
    Citigroup
    8/29/2024$194.00Buy
    Redburn Atlantic
    8/12/2024$179.00Hold → Buy
    HSBC Securities
    5/23/2024$160.00 → $185.00Neutral → Buy
    BofA Securities
    5/17/2024$154.00Buy → Hold
    HSBC Securities
    More analyst ratings

    $TTWO
    Financials

    Live finance-specific insights

    See more
    • Take-Two Interactive Software, Inc. Reiterates Expectations to Achieve Sequential Increases in, and Record Levels of, Net Bookings in Fiscal 2026 and 2027

      Rockstar Games announces release date for Grand Theft Auto VI of May 26, 2026 Company to report its fourth quarter and Fiscal 2025 results on May 15, 2025 Take-Two Interactive Software, Inc. (NASDAQ:TTWO) today reiterated its expectations that the Company will achieve sequential increases in, and record levels of, Net Bookings in Fiscal 2026 and 2027. In addition, Take-Two's wholly-owned label, Rockstar Games, has announced that Grand Theft Auto VI, which was expected to launch in Fall of 2025, is now planned for release on May 26, 2026, during the Company's Fiscal Year 2027. "We support fully Rockstar Games taking additional time to realize their creative vision for Grand Theft Auto VI,

      5/2/25 7:30:00 AM ET
      $TTWO
      Computer Software: Prepackaged Software
      Technology
    • Take-Two Interactive Software, Inc. to Report Fourth Quarter and Fiscal Year 2025 Results on Thursday, May 15, 2025

      Take-Two Interactive Software, Inc. (NASDAQ:TTWO) today announced that it plans to report financial results for its fourth quarter and fiscal year 2025, ended March 31, 2025, after the market close on Thursday, May 15, 2025. The Company plans to hold a conference call to discuss its results at 4:30 p.m. Eastern Time, which can be accessed by dialing 800-715-9871 or (646) 307-1963 (conference ID: 1162777). A live, listen-only webcast and a replay of the call will be available at http://take2games.com/ir. About Take-Two Interactive Software Headquartered in New York City, Take-Two Interactive Software, Inc. is a leading developer, publisher, and marketer of interactive entertainment for con

      4/17/25 8:00:00 AM ET
      $TTWO
      Computer Software: Prepackaged Software
      Technology
    • Rockstar Games to Acquire Video Games Deluxe

      Rockstar Games® is proud to announce the acquisition of Video Games Deluxe, the Sydney-based development studio. The studio will be renamed Rockstar Australia. Video Games Deluxe has worked with Rockstar Games on some of its most memorable titles, including the 2017 re-releases of L.A. Noire, L.A. Noire: The VR Case Files, and most recently, on upgrades to Grand Theft Auto: The Trilogy – The Definitive Edition for iOS and Android, Netflix, and modern consoles. "After working together closely over many years, we are excited to have Video Games Deluxe join the team as Rockstar Australia," said Rockstar Games Head of Publishing, Jennifer Kolbe. Rockstar Games' relationship with the Video G

      3/3/25 8:00:00 AM ET
      $TTWO
      Computer Software: Prepackaged Software
      Technology

    $TTWO
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Director Sheresky Michael sold $37,057 worth of shares (173 units at $214.20), decreasing direct ownership by 0.27% to 64,878 units (SEC Form 4)

      4 - TAKE TWO INTERACTIVE SOFTWARE INC (0000946581) (Issuer)

      3/7/25 4:07:35 PM ET
      $TTWO
      Computer Software: Prepackaged Software
      Technology
    • Chief Financial Officer Goldstein Lainie sold $175,118 worth of shares (829 units at $211.24), decreasing direct ownership by 0.27% to 310,163 units (SEC Form 4)

      4 - TAKE TWO INTERACTIVE SOFTWARE INC (0000946581) (Issuer)

      3/5/25 4:28:02 PM ET
      $TTWO
      Computer Software: Prepackaged Software
      Technology
    • Chief Legal Officer Emerson Daniel P sold $121,885 worth of shares (577 units at $211.24), decreasing direct ownership by 0.39% to 148,184 units (SEC Form 4)

      4 - TAKE TWO INTERACTIVE SOFTWARE INC (0000946581) (Issuer)

      3/5/25 4:25:41 PM ET
      $TTWO
      Computer Software: Prepackaged Software
      Technology

    $TTWO
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more

    $TTWO
    SEC Filings

    See more

    $TTWO
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more

    $TTWO
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • SEC Form SC 13G/A filed by Take-Two Interactive Software Inc. (Amendment)

      SC 13G/A - TAKE TWO INTERACTIVE SOFTWARE INC (0000946581) (Subject)

      2/14/24 10:30:45 AM ET
      $TTWO
      Computer Software: Prepackaged Software
      Technology
    • SEC Form SC 13G/A filed by Take-Two Interactive Software Inc. (Amendment)

      SC 13G/A - TAKE TWO INTERACTIVE SOFTWARE INC (0000946581) (Subject)

      2/9/24 6:05:54 PM ET
      $TTWO
      Computer Software: Prepackaged Software
      Technology
    • SEC Form SC 13G filed by Take-Two Interactive Software Inc.

      SC 13G - TAKE TWO INTERACTIVE SOFTWARE INC (0000946581) (Subject)

      1/29/24 6:52:23 AM ET
      $TTWO
      Computer Software: Prepackaged Software
      Technology
    • Take-Two Interactive Software Inc. filed SEC Form 8-K: Regulation FD Disclosure, Financial Statements and Exhibits

      8-K - TAKE TWO INTERACTIVE SOFTWARE INC (0000946581) (Filer)

      5/2/25 7:34:20 AM ET
      $TTWO
      Computer Software: Prepackaged Software
      Technology
    • SEC Form 144 filed by Take-Two Interactive Software Inc.

      144 - TAKE TWO INTERACTIVE SOFTWARE INC (0000946581) (Subject)

      3/3/25 3:35:28 PM ET
      $TTWO
      Computer Software: Prepackaged Software
      Technology
    • SEC Form S-3ASR filed by Take-Two Interactive Software Inc.

      S-3ASR - TAKE TWO INTERACTIVE SOFTWARE INC (0000946581) (Filer)

      2/7/25 6:18:34 AM ET
      $TTWO
      Computer Software: Prepackaged Software
      Technology
    • DA Davidson initiated coverage on Take-Two with a new price target

      DA Davidson initiated coverage of Take-Two with a rating of Buy and set a new price target of $250.00

      2/19/25 7:07:13 AM ET
      $TTWO
      Computer Software: Prepackaged Software
      Technology
    • Take-Two downgraded by UBS with a new price target

      UBS downgraded Take-Two from Buy to Neutral and set a new price target of $230.00 from $175.00 previously

      1/27/25 3:37:23 PM ET
      $TTWO
      Computer Software: Prepackaged Software
      Technology
    • Take-Two upgraded by UBS with a new price target

      UBS upgraded Take-Two from Neutral to Buy and set a new price target of $230.00 from $175.00 previously

      1/27/25 7:52:43 AM ET
      $TTWO
      Computer Software: Prepackaged Software
      Technology
    • Mafia: The Old Country Launching August 8, 2025; Debuts Official Gameplay Trailer and Developer Insights Video

      Hangar 13 development team to host panel at PAX East to dive into the next chapter of the proven franchise; available now for pre-order Today, 2K and Hangar 13 unveiled the Official Gameplay Trailer and ‘Breaking Omerta' Developer Insights video for Mafia: The Old Country, coming to PlayStation®5 (PS5®), Xbox Series X|S, and PC via Steam and NVIDIA GeForce NOW on August 8, 2025. Fans can watch the PAX East developer panel today at 2:00 p.m. EDT on YouTube and Twitch to learn about Mafia: The Old Country directly from its developers, and to pre-order the game today. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250508930640/en/T

      5/8/25 11:00:00 AM ET
      $TTWO
      Computer Software: Prepackaged Software
      Technology
    • Rockstar Games Releases Trailer 2 for Grand Theft Auto VI

      Explore Vice City and beyond at rockstargames.com/VI Rockstar Games®, a publishing label of Take-Two Interactive Software, Inc. (NASDAQ:TTWO), is proud to announce the release of Trailer 2 for Grand Theft Auto VI, alongside a closer look at the biggest, most immersive evolution of the series yet: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250506618004/en/Set to launch on May 26, 2026, on PlayStation® 5 computer entertainment systems and Xbox Series X|S games and entertainment systems, Grand Theft Auto VI will soon be available for wishlisting on both the PlayStation and Microsoft Stores. Vice City, USA. Jason and Lucia have

      5/6/25 10:07:00 AM ET
      $TTWO
      Computer Software: Prepackaged Software
      Technology
    • Take-Two Interactive Software, Inc. Reiterates Expectations to Achieve Sequential Increases in, and Record Levels of, Net Bookings in Fiscal 2026 and 2027

      Rockstar Games announces release date for Grand Theft Auto VI of May 26, 2026 Company to report its fourth quarter and Fiscal 2025 results on May 15, 2025 Take-Two Interactive Software, Inc. (NASDAQ:TTWO) today reiterated its expectations that the Company will achieve sequential increases in, and record levels of, Net Bookings in Fiscal 2026 and 2027. In addition, Take-Two's wholly-owned label, Rockstar Games, has announced that Grand Theft Auto VI, which was expected to launch in Fall of 2025, is now planned for release on May 26, 2026, during the Company's Fiscal Year 2027. "We support fully Rockstar Games taking additional time to realize their creative vision for Grand Theft Auto VI,

      5/2/25 7:30:00 AM ET
      $TTWO
      Computer Software: Prepackaged Software
      Technology

    $TTWO
    Leadership Updates

    Live Leadership Updates

    See more
    • LoopMe Acquires Chartboost from Zynga, Accelerating its Mission to Power Brand Advertising Across the Digital Ecosystem

      Fueled by rapid growth, LoopMe's acquisition reflects its bold ambition to integrate AI-driven brand advertising within the digital app and web ecosystem. LoopMe, a leading technology company that uses artificial intelligence (AI) to improve brand advertising results, today announced its acquisition of mobile advertising and monetization platform Chartboost from Zynga Inc., a wholly-owned publishing label of Take-Two Interactive Software (NASDAQ:TTWO). Financial details of the transaction were not disclosed. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241210493233/en/Chartboost by LoopMe (Graphic: Business Wire) With a full

      12/10/24 12:40:00 PM ET
      $TTWO
      Computer Software: Prepackaged Software
      Technology
    • Nate V. Rackiewicz Joins Reset Digital as Chief Data Officer

      Rackiewicz most recently served as Chief Data Officer for Gannett and is recognized globally for his 20+ years of Data Science, Analytics, and Engineering Leadership across media verticals Reset Digital, today announced the appointment of Nate V. Rackiewicz as Chief Data Officer, a newly-created role overseeing the company's vision, strategy, and execution of data, analytics, and science across the neuroprogrammatic leader's business. Reset Digital's NeuroprogrammaticTM advertising platform is a first-of-its-kind programmatic platform that allows brands to engage omnichannel audiences based on what motivates them as people versus targets and gives brands and publishers much broader and de

      12/19/22 3:19:00 PM ET
      $GCI
      $TTWO
      Newspapers/Magazines
      Consumer Discretionary
      Computer Software: Prepackaged Software
      Technology
    • Take-Two Interactive Software, Inc. Announces Results of Annual Meeting of Stockholders

      Take-Two Interactive Software, Inc. (NASDAQ:TTWO) (the "Company") announced the results of the stockholder vote at its Annual Meeting of Stockholders held today. The following directors were elected: Strauss Zelnick, Chairman; Michael Dornemann; Roland Hernandez; J Moses; Michael Sheresky; LaVerne Srinivasan; Susan Tolson; Paul Viera. In addition, the Company's stockholders: Approved, on a non-binding advisory basis, the compensation of the Company's "named executive officers"; Approved an amendment to the Amended and Restated Take-Two Interactive Software, Inc. 2017 Stock Incentive Plan to increase the available shares reserved thereunder; and Ratified the appointm

      9/14/21 9:45:00 AM ET
      $TTWO
      Computer Software: Prepackaged Software
      Technology