Take-Two report: revenue over $1 billion, losses decreased, layoffs are not planned
Take-Two Interactive also reported for the third fiscal quarter, which lasted from October to December 2023.
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Key figures for the quarter
- According to the report, Take-Two generated revenue of $1.37 billion. A 3% drop compared to 2022.
- Digital sales accounted for 95% of the company's revenue.
- Mobile games earned the most — $706.7 million. Console games brought in $547.6 million, and PC games brought in $122 million.
- Net income for the year fell by 3% to $1.34 billion.
- Net losses amounted to $91.6 million, a decrease of $61.8 million in annual terms. This is Take-Two's lowest quarterly loss since it bought Zynga in May 2022.
- According to Take-Two's forecast, its revenue for the entire fiscal year will amount to $5.27-5.32 billion, and its net loss will decrease to $1 billion — $990 million. The company also expects its net revenues to reach $5.25-5.3 billion, of which 51% will go to Zynga, 30% to 2K, and 19% to Rockstar Games.
Data on games for the quarter
The performance of GTA V, GTA Online, Red Dead Redemption series games and Zynga's mobile portfolio (especially Toon Blast) exceeded the company's expectations. Take-Two is also pleased with the success of Match Factory's mobile innovations! and Top Troops.
Updated sales and downloads figures for the company's games:
- GTA V — 195 million copies. The entire series is 420 million copies.
- Red Dead Redemption 2 — 61 million copies. The entire series has 86 million copies.
- NBA 2K24 — 7 million copies. The entire series has 146 million copies.
- Borderlands 2 — 28 million copies, Borderlands 3 — 19 million copies. The entire series has 83 million copies.
- Sid Meier's Civilization series — 69 million copies.
- The BioShock series has 42 million copies.
- Downloads of Zynga hyper-casual games exceeded 2.7 billion. As of December 31, 2023, Hair Challenge collected the most downloads — 259 million, Tangle Master 3D — 186 million, High Heels! — 160 million and Fill The Fridge — 124 million.
In an interview with IGN, Take-Two CEO Strauss Zelnick said that his company is currently working on a new cost-cutting program. She wants to "significantly" reduce them. Despite the optimization of the business, Take-Two currently has no plans to lay off employees.
Recall that in February 2023, Take-Two already talked about reducing costs. Then she announced that she would try to reduce annual expenses by more than $ 50 million, and did not rule out layoffs. A month later, the company actually conducted them in a number of divisions, including the Private Division.
