2K announced WWE® 2K24, the newest installment of the flagship WWE video game franchise developed by Visual Concepts, will be coming soon for PlayStation® 5 (PS5®), PlayStation®4 (PS4®), Xbox Series X|S, Xbox One, and PC via Steam. As he burns a path through WWE in an effort to claim world championship gold and fulfill his destiny, “The American Nightmare” Cody Rhodes will be featured on the Standard Edition cover. Multi-time champions and Women’s Royal Rumble winners Bianca Belair and Rhea Ripley share the ...

Video game publisher Take-Two Interactive Software (TTWO 2.03%) is going through an interesting time in its business. The company acquired mobile gaming developer Zynga in 2022, helping it expand its presence in the mobile games market.On top of that, after wrapping up its 2023 fiscal year, which ended last March 31, Take-Two's CEO, Strauss Zelnick, made a bold prediction, stating: "We believe that we will enter our next phase of growth in Fiscal 2025, as we plan to deliver several groundbreaking titles tha ...

Investors understandably worry about having missed out on Take-Two Interactive (TTWO 0.09%) stock. The video game developer's shares have jumped over 50% in the past year, easily outperforming peers like Electronic Arts (EA 0.13%). It's no secret that Take-Two is about to unleash a flood of new content that's likely to push its revenue footprint up to a new level. Most investors are expecting an over 40% sales spike in the new fiscal year.That optimism could make it harder for shareholders to see market-thu ...

NEW YORK--(BUSINESS WIRE)--Take-Two Interactive Software, Inc. (NASDAQ: TTWO) today announced that it plans to report financial results for the third quarter of its fiscal year 2024, ended December 31, 2023, after the market close on Thursday, February 8, 2024. 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 (877) 407-0984 or (201) 689-8577. A live, listen-only webcast and a replay of the call will be available at http://take2gam ...

The video game industry generated an estimated $212 billion in 2023 and with a base of 3.2 billion players, this business is only expected to grow over the coming years. As for investing in the industry, one stock, Take-Two Interactive Software (TTWO -0.41%), has been on a tear over the past year with a 50% price appreciation. The video game publisher has undergone a seismic change over the past couple of years and owns fan-favorite franchises like 2K, Grand Theft Auto, and Red Dead. With Take-Two's recent ...

Investors could hardly be more optimistic about Take-Two Interactive's (TTWO 0.29%) growth opportunities these days. The video game developer's stock price jumped over 50% in 2023 to roughly double the wider market's performance. This spike occurred despite Take-Two's modest sales trends and the significant losses it generated through most of the year.Less risky options are available for investors seeking exposure to the video game industry. Rival Electronic Arts (EA 0.19%) is adding to its impressive marke ...

NEW YORK--(BUSINESS WIRE)--Take-Two Interactive Software, Inc. (NASDAQ: TTWO) (the “Company”) announced today that it has agreed to sell in an underwritten public add-on offering $350 million aggregate principal amount of its Senior Notes, consisting of $50 million of its 5.000% Senior Notes due 2026 and $300 million of its 4.950% Senior Notes due 2028 (the “new notes”). The new notes will be issued as additional notes under the existing indenture pursuant to which the Company previously issued $500 millio ...

Leon Neal Thesis Earlier in October, I covered Take-Two Interactive Software, Inc. (NASDAQ:TTWO), where I discussed TTWO's growth potential going forward in the near term. Today in this article, I will be covering the company's recent Q2 2024 result, the strong interest in GTA VI's trailer, and the gaming industry outlook in the near term. TTWO posted another quarter of strong performance in FY Q2 2024, however, the highlight for the previous quarter was GTA VI's recent trailer release, which was receive ...

The next several years could be transformative for Take-Two Interactive's (TTWO -0.32%) business. While most companies like to claim that they're on the cusp of huge sales and earnings growth, the video game publisher is actually on that path.That's because management is planning dozens of significant title launches that, combined with its new casual gaming portfolio, should propel the company toward the highest levels of its industry. After trailing leaders like Electronic Arts for years, Take-Two has a go ...

Financial Data and Key Metrics Changes - GAAP net revenue decreased by 7% to $1.3 billion, while cost of revenue increased by 24% to $884 million, driven by an impairment charge of $220 million and $190 million amortization of acquired intangibles [31] - Operating expenses increased by 3% to $959 million, including $165 million of loan impairment, but were flat year-over-year on a management basis due to lower marketing expenditures [31][34] - Net bookings for the quarter were $1.44 billion, at the high end of guidance, with recurrent consumer spending accounting for 78% of net bookings [38][58] Business Line Data and Key Metrics Changes - Grand Theft Auto V and Grand Theft Auto Online continued to perform exceptionally well, with Grand Theft Auto V sold in approximately 190 million units and Red Dead Redemption 2 surpassing 57 million units sold [40][43] - NBA 2K24 launched successfully, with engagement and virtual currency bookings exceeding expectations, driving double growth in ARPU compared to NBA 2K23 [45] - The mobile business saw strong performance with new titles like PowerSlap and Top Troops, contributing positively to KPIs and engagement metrics [47][53] Market Data and Key Metrics Changes - The geographic net booking split is projected to be about 65% United States and 35% international, with a forecasted current consumer spending growth of 4% compared to fiscal 2023 [59] - The breakdown of net bookings from labels is expected to be roughly 49% Zynga, 31% 2K, 18% Rockstar Games, and 2% other [59] Company Strategy and Development Direction - The company is focused on being the most creative, innovative, and efficient entertainment company, with a robust and diverse development pipeline [12][13][39] - The strategy includes optimizing cost structures while investing for growth, with a commitment to enhancing profitability and performance across various business segments [33][60] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the holiday season, citing the strength of the product catalog and anticipated strong hardware sales [12][115] - The company reiterated its fiscal 2024 net bookings guidance of $5.45 billion to $5.55 billion, indicating confidence in upcoming releases and overall market conditions [12][85] Other Important Information - The company recorded an impairment charge of $220 million related to intangible assets and $165 million of goodwill, reflecting updated long-term projections for one of its reporting units [72] - The anticipated trailer for the next Grand Theft Auto is expected to be revealed in December, generating excitement and potential positive impact on catalog revenue [16][121] Q&A Session Summary Question: Thoughts on fiscal '25 and '26 guidance - Management expects net bookings to be below $8 billion due to shifts in the pipeline but not materially so [64][120] Question: Acquisition of FiveM and its implications - The acquisition is seen as a way to learn about user-generated content and monetize it, with a focus on protecting intellectual property [65] Question: Engagement with GTA+ subscribers - No materially different behavior was observed between subscribers and non-subscribers, indicating positive engagement [68] Question: Clarification on advertising revenue - There is a difference between GAAP revenue for advertising and advertising bookings due to deferrals [69] Question: Details on the write-down taken in the quarter - The write-down was related to intangible assets and goodwill, reflecting updated long-term projections [71] Question: Impact of potential strike on production - Management is optimistic about labor negotiations and believes they are well-protected in case of a strike [121] Question: Updated thoughts on AI - AI is expected to enhance efficiency and creativity, but it is not anticipated to create hit games on its own [124]