Take-Two also released a quarterly report. After that, its shares collapsed by 17%

In her report, Take-Two told what the second quarter of fiscal 2023 was like for her (ended September 30).

Revenue reached $1.4 billion, which is 62% more than last year. $1.319 billion of this amount was accounted for by digital sales of games.

At the same time, Take-Two’s losses amounted to $257 million. Initially, the company expected that they would not exceed $ 160 million.

▪️Take-Two has worsened the forecast for the entire fiscal year. Now it plans to earn $5.4-5.5 billion with a loss of $631-674 million.

As the company explained, it had to change the forecast due to the updated release schedule of games, currency fluctuations, as well as problems in the global economy and the mobile games segment.