Take-Two Interactive Software(US:TTWO)2024-05-16 20:44Financial Performance & Guidance - GAAP Net Revenue for Q4 FY2024 was $1,399 million [10], while the guidance was $1,323 to $1,373 million [10] - GAAP Net Loss for Q4 FY2024 was $(2,903) million [10], with a guidance of $(170) to $(153) million [10] - Net Bookings for Q4 FY2024 were $1,349 million [17], exceeding the guidance of $1,270 to $1,320 million [17] - The company projects 5% Net Bookings growth over Fiscal Year 2024 [22] - FY2025 Net Bookings guidance is $5,550 to $5,650 million [31], with an expected increase of approximately 3% year-over-year in Recurrent Consumer Spending (RCS) [32] - GAAP Net Revenue guidance for FY2025 is $5,570 to $5,670 million [61] - GAAP Net Loss guidance for FY2025 is $(674) to $(606) million [61] Factors Affecting Results - GAAP results in Q4 FY2024 were impacted by a goodwill impairment charge of $2.2 billion [5], an impairment charge of $304 million related to acquired intangible assets [5], and $93 million of business reorganization expenses [5] - GAAP results in FY2024 were impacted by a goodwill impairment charge of $2.3 billion [34], an impairment charge of $577 million related to acquired intangible assets [34], and $105 million of business reorganization expenses [34] Key Games & Outlook - Better-than-expected results from NBA 2K24, Zynga's in-app purchases (led by Toon Blast and Match Factory!), the Red Dead Redemption series, and the Grand Theft Auto series contributed to Q4 Net Bookings exceeding guidance [18] - Grand Theft Auto VI is expected to launch in the Fall of Calendar 2025 [22] - The company expects sequential growth in Net Bookings for Fiscal Years 2025, 2026, and 2027 [32]