FORWARD LOOKING STATEMENTS 2 Q4 FY2024 RESULTS SUMMARY: Q4 Note: GAAP results were impacted by: 1) a goodwill impairment charge of $2.2 billion, 2) an impairment charge of $304 million related to acquired intangible assets; and 3) $93 million of business reorganization expenses related to our cost reduction program TAKE-TWO INTERACTIVE TAKE-TWO INTERACTIVE SOFTWARE, INC. (NASDAQ: TTWO) FOURTH QUARTER AND FISCAL 2024 RESULTS & GUIDANCE SUMMARY Statements contained herein which are not historical facts are co ...

Follow Invezz on Telegram , Twitter , and Google News for instant updates > Take-Two (NASDAQ: TTWO) revealed its Q4 2024 financial performance on 16 May. The firm's revenue stood at $1.349 billion, surpassing consensus estimate of $1.32 billion and down 3% YoY. Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins. Meanwhile, earnings per share missed the -0.98 estimate at -17.02, whereas sales came at $1.399 billon versus the forecasted $1.299 billion. Mob ...

Financial Performance - Q4 2024 Net Bookings reached $1.35 billion, with NBA 2K24, Zynga's in-app purchases, and the Grand Theft Auto series being key contributors[2][4] - Fiscal Year 2024 Net Bookings totaled $5.33 billion, a 1% increase compared to the previous fiscal year[2][14] - Recurrent consumer spending accounted for 79% of Q4 2024 Net Bookings, decreasing by 2% year-over-year[10] - GAAP net loss for Q4 2024 was $2.90 billion, including $2.18 billion in goodwill impairment charges[10] - Fiscal Year 2025 Net Bookings are projected to be between $5.55 billion and $5.65 billion[3][16] - Fiscal Year 2024 GAAP net loss was $3.74 billion, including $2.34 billion in goodwill impairment charges[14] - Fiscal Year 2025 GAAP net loss is expected to range from $674 million to $606 million[16] - Recurrent consumer spending increased by 2% in Fiscal Year 2024, accounting for 78% of total Net Bookings[14] - Fiscal Year 2025 EBITDA is projected to be between $429 million and $483 million[16] - Total net revenue for Q1 2024 is projected to be between $1,300 million and $1,350 million, with a deferred net revenue adjustment of $(100) million[17] - Net loss for Q1 2024 is expected to range from $(272) million to $(245) million, with a net loss per share between $(1.58) and $(1.43)[17] - Non-GAAP EBITDA for Q1 2024 is forecasted to be between $26 million and $47 million[17] - Net bookings for Q1 2024 are anticipated to be between $1,200 million and $1,250 million[17] - The company's GAAP net loss for the twelve months ended March 31, 2024, was $(3,744.2) million, with a basic and diluted loss per share of $(22.01)[34] - Gross profit for the twelve months ended March 31, 2024, was $2,241.8 million, compared to $2,285.3 million in the previous year[34] - The company's total operating expenses for the twelve months ended March 31, 2024, were $5,832.4 million, including a goodwill impairment of $2,342.1 million[34] - Net loss increased significantly from $1.12 billion in 2023 to $3.74 billion in 2024, driven by a $2.34 billion goodwill impairment[38] - Net revenue decreased slightly from $1.45 billion in 2023 to $1.40 billion in 2024, with the United States contributing 62% of total revenue in 2024 compared to 66% in 2023[40] - Net cash used in operating activities was $16.1 million in 2024, compared to net cash provided by operating activities of $1.1 million in 2023[38] - Net revenue for the twelve months ended March 31, 2024, was $5,349.6 million, slightly down from $5,349.9 million in 2023[43] - Cost of revenue for game intangibles increased to $1,301.1 million in 2024 from $1,169.7 million in 2023[43] - Goodwill impairment for 2024 was $2,342.1 million, compared to $0 in 2023[43] - Adjusted Unrestricted Operating Cash Flow for 2024 was $42.0 million, down from $55.7 million in 2023[44] - Net loss for the twelve months ended March 31, 2024, was $(3,744.2) million, compared to $(1,124.7) million in 2023[45] - EBITDA for the twelve months ended March 31, 2024, was $272.0 million, down from $351.4 million in 2023[45] - Fiscal Year 2025 outlook projects a net loss of $(674) to $(606) million and EBITDA of $429 to $483 million[46] - Q2 2024 outlook projects a net loss of $(272) to $(245) million and EBITDA of $26 to $47 million[47] Product Releases and Expectations - Grand Theft Auto VI release window narrowed to Fall 2025, with high commercial expectations[5] - Key product releases in 2024 include "Penny's Big Breakaway" (February 21), "WWE 2K24" (March 8), and "TopSpin 2K25" (April 26)[18] - Future product lineup includes "Star Wars Hunters" (June 4, 2024) and "Grand Theft Auto VI" (Fall 2025)[21] Revenue and Bookings Breakdown - Digital online revenue accounted for 95% of total net revenue in 2024, consistent with 96% in 2023, indicating a continued shift towards digital distribution[40] - Mobile platform revenue remained stable at 51% of total net revenue in 2024, while console revenue decreased slightly from 40% to 41%[40] - Net Bookings by geographic region showed a slight decrease in the United States from 62% in 2023 to 61% in 2024, while international bookings remained stable at 39%[40] - Net revenue for the twelve months ended March 31, 2024, was $5,349.6 million, with the United States contributing $3,279.2 million (61%) and international markets contributing $2,070.4 million (39%)[41] - Digital online distribution accounted for 96% of net revenue ($5,112.2 million) in the twelve months ended March 31, 2024, up from 95% ($5,085.7 million) in the same period last year[41] - Mobile platform revenue increased to $2,748.0 million (51% of total) in the twelve months ended March 31, 2024, compared to $2,538.6 million (47%) in the previous year[41] - Net bookings for the twelve months ended March 31, 2024, were $5,333.0 million, with mobile platform bookings reaching $2,757.7 million (52%)[41] Expenses and Costs - Cost of revenue for the three months ended March 31, 2024, was $474.7 million for game intangibles and $210.7 million for product costs[42] - Software development costs and royalties for the three months ended March 31, 2024, were $88.2 million, with an additional $78.6 million for licenses[42] - General and administrative expenses for the three months ended March 31, 2024, were $175.0 million, with research and development costs at $245.5 million[42] - Amortization and impairment of acquired intangibles for the three months ended March 31, 2024, totaled $474.7 million[42] - Stock-based compensation for the three months ended March 31, 2024, was $29.2 million for general and administrative expenses and $25.0 million for research and development[42] - Acquisition-related expenses for the three months ended March 31, 2024, were $12.5 million, with a significant impact from goodwill impairment of $2,176.7 million[42] Balance Sheet and Cash Flow - Total assets decreased from $15.86 billion in 2023 to $12.22 billion in 2024, primarily due to a reduction in goodwill from $6.77 billion to $4.43 billion[36] - Cash and cash equivalents decreased from $827.4 million in 2023 to $754.0 million in 2024, while restricted cash and cash equivalents also declined from $307.6 million to $252.1 million[36] - Long-term debt increased from $1.73 billion in 2023 to $3.06 billion in 2024, reflecting higher borrowing activities[36] - Total stockholders' equity decreased from $9.04 billion in 2023 to $5.67 billion in 2024, primarily due to the accumulated deficit increasing to $2.58 billion[36] Tax and Share Count - The company's tax rate is expected to be 18%, with a share count of 171.7 million for GAAP net loss per share calculations[19]

Take-Two Interactive (TTWO) is set to report fourth-quarter fiscal 2024 results on May 16. The consensus mark for fiscal fourth-quarter loss per share has narrowed from 13 cents to 7 cents in the past 30 days, indicating a decline of 91.76% from the year-ago quarter's reported figure. Take-Two's earnings beat the Zacks Consensus Estimate twice in the last four quarters and missed the other two occasions, delivering an average surprise of 10.38%. Let's see how things have shaped up for this announcement. Fac ...

The upcoming report from Take-Two Interactive (TTWO) is expected to reveal quarterly earnings of $0.07 per share, indicating a decline of 91.8% compared to the year-ago period. Analysts forecast revenues of $1.3 billion, representing a decrease of 6.6% year over year.The consensus EPS estimate for the quarter has been revised 115% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Bef ...

Wall Street expects a year-over-year decline in earnings on lower revenues when Take-Two Interactive (TTWO) reports results for the quarter ended March 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on May 16, 2024, might help the stock move higher if these key numbers are better than ...

Discover how Take-Two's buyout of Gearbox could boost its market edge.The strategic $460 million acquisition of Gearbox Entertainment by Take-Two Interactive (TTWO 1.96%) appears to be a bold play to bolster its video gaming reach. Take Two has more than 20 years of successful publishing partnerships with Gearbox, and this move brings high-profile franchises like Borderlands in house as part of Take-Two's expansive portfolio. Let's look into whether or not this acquisition can further solidify its position ...

About this content About William Farrington William kickstarted his career as a researcher and reporter for a global legal publication, covering everything from public law to M&A. Before moving to Proactive Investors, he worked as a reporter for a major fintech company with a focus on cryptocurrency and blockchain technology. Harking from Queensland, Australia, William obtained first-class honours in journalism and media from Birkbeck University before going on to complete an MA in creative and critical ...

Take-Two Interactive, the gaming giant behind the Grand Theft Auto franchise, is laying off 70 employees in the Seattle region. A WARN notification with Washington’s Employment Security Department (ESD) revealed the layoffs in Seattle as part of a closure beginning June 28.Take-Two lists Seattle as an office location on its website. The company owns Seattle-based studio Intercept Games, which is developing Kerbal Space Program 2. We’ve reached out to Take-Two for more details. The company, which owns publis ...

It's reporting quarterly results in just a few weeks, too.As billionaire investors go, Chase Coleman has a reputation for making bold bets on stocks that are just getting started in their growth stories. His portfolio, through the Tiger Global Management fund, is heavily focused on artificial intelligence (AI) today and counts several huge AI winners among its top holdings.There's a name that stands out in the fund's list of big holdings, though, and it's one that many growth investors will be familiar with ...