Take-Two ended the quarter with a loss of $104 million and revised its forecast for the year

Take-Two has released its first financial report after Zynga officially joined it. We are looking at how the first quarter of fiscal 2023 passed for the company.

Revenue increased to $1.1 billion (+36%).
▪️Net loss amounted to $104 million (-168.3%).
▪️Receipts (bookings) — $1 billion (+41%).
▪️95% the proceeds came from digital sales — $956 million.

The company also announced that it plans to earn $5.8-5.9 billion by the end of 2023. This turned out to be $1.4 billion lower than analysts expected. As a result, Take-Two shares fell by 7% in the premarket.