Take-Two Revenues Grew 17 Percent to $1.28 Billion
- Paul Thurrott
- Aug 09, 2023
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Video game giant Take-Two reported that it lost $204.3 million on revenues of $1.28 billion in the quarter ending June 30, 2023.
“We had a strong start to the fiscal year and achieved net bookings of $1.2 billion, which was at the high end of our expectations [and a gain of 20 percent YOY],” Take-Two chairman and CEO Strauss Zelnick said. “Our performance was led by our catalog of iconic, industry-leading intellectual properties, which continues to resonate with our player communities worldwide.”
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Take-Two noted that NBA 2K23, Grand Theft Auto Online/Grand Theft Auto V, Empires & Puzzles, Toon Blast, Merge Dragons!, Words With Friends, Red Dead Redemption 2/Red Dead Online, and Toy Blast were its top contributors in the quarter.
Looking to the future, the company reiterated its previous forecast of $5.5 billion in bookings in its current fiscal year, and while it would not confirm that Grand Theft Auto 6 was on the way, it strongly hinted this was happening. (Its predecessor, GTA 5, has sold over 185 million units.)
“Our teams are making excellent progress on our strategic focus areas, including the advancement of our eagerly-anticipated development pipeline and capitalizing on our revenue-driven opportunities and synergies, all while maintaining a deep focus on efficiency,” Mr. Zelnick said.
Take-Two acquired mobile gaming firm Zynga in 2022 for $12 billion, and Zelnick said he expects Microsoft to close on Activision Blizzard, triggering further industry consolidation.