“Our Fiscal 2023 is off to a strong start, as demonstrated by our first quarter Net Bookings of $1 billion,” said Strauss Zelnick, Chairman and CEO of Take-Two. The largest contributors to Net Bookings were NBA 2K22 Grand Theft Auto Online and Grand Theft Auto V Tiny Tina's Wonderlands Empires & Puzzles Red Dead Redemption 2 and Red Dead Online WWE 2K22 Rollic's hyper-casual portfolio The Quarry Toon Blast and Top Eleven.Ĭatalog accounted for $876.1 million of Net Bookings led by NBA 2K Grand Theft Auto Empires & Puzzles Red Dead Redemption Rollic's hyper-casual portfolio Toon Blast Top Eleven Words With Friends™ and Merge Dragons!™. Digitally-delivered Net Bookings were up 41% to $956.0 million, as compared to $680.4 million in last year’s fiscal first quarter, and accounted for 95% of total Net Bookings. Net Bookings from recurrent consumer spending grew 48% and accounted for 73% of total Net Bookings. Net Bookings is defined as the net amount of products and services sold digitally or sold-in physically during the period, and includes licensing fees, merchandise, in-game advertising, strategy guides and publisher incentives.ĭuring fiscal first quarter 2023, total Net Bookings grew 41% to $1.0 billion, as compared to $711.4 million during last year’s fiscal first quarter. In order to calculate net income per diluted share for management reporting purposes, the Company uses its fully diluted share count of 141.0 million. (Loss) gain on fair value adjustments, net The following data, together with a management reporting tax rate of 18%, are used internally by the Company’s management and Board of Directors to adjust the Company’s GAAP and Non-GAAP financial results in order to facilitate comparison of its operating performance between periods and to better understand its core business and future outlook: Please see the section below titled “Non-GAAP Financial Measures” for additional information. Starting in fiscal first quarter 2023, the Company is reporting a Non-GAAP measure of financial performance: EBITDA, which is defined as GAAP net income (loss) excluding interest income (expense), provision for (benefit from) income taxes, depreciation expense, and amortization and impairment of acquired intangibles. As of June 30, 2022, the Company had cash and short-term investments of $1.3 billion and $3.3 billion of debt. During the three-month period ended June 30, 2022, Adjusted Unrestricted Operating Cash Flow (Non-GAAP), which is defined as GAAP net cash from operating activities, adjusted for changes in restricted cash, was $(14.4) million, as compared to $29.1 million in the same period last year (please see the section below titled “Non-GAAP Financial Measures” for additional information). GAAP net loss benefited from the reversal of expense of $47.7 million related to forfeitures of previously granted stock awards.ĭuring the three-month period ended June 30, 2022, GAAP net cash provided by operating activities was $100.8 million, as compared to $148.2 million in the same period last year. GAAP net loss was $104.0 million, or $0.76 per share, as compared to net income of $152.3 million, or $1.30 per diluted share, for the comparable period last year. The largest contributors to GAAP net revenue were NBA® 2K22 Grand Theft Auto® Online and Grand Theft Auto V Red Dead Redemption® 2 and Red Dead Online Empires & Puzzles™ Tiny Tina's Wonderlands® WWE® 2K22 Rollic's hyper-casual portfolio Toon Blast™ The Quarry® and Top Eleven®. Digitally-delivered GAAP net revenue increased 40% to $1.0 billion, as compared to $740.8 million in last year’s fiscal first quarter, and accounted for 94% of total GAAP net revenue. Recurrent consumer spending (which is generated from ongoing consumer engagement and includes virtual currency, add-on content, in game purchases and in-game advertising) increased 44% and accounted for 75% of total GAAP net revenue. GAAP net revenue increased 36% to $1.1 billion, as compared to $813.3 million in last year’s fiscal first quarter. For further information, please see the first quarter fiscal 2023 results slide deck posted to the Company’s investor relations website at /ir.įirst Quarter Fiscal 2023 Financial Highlights In addition, the Company revised its outlook for fiscal year 2023, ending March 31, 2023, to include its combination with Zynga and provided its initial outlook for the second quarter of fiscal year 2023, ending September 30, 2022. (NASDAQ:TTWO) today reported strong results for the first quarter of its fiscal year 2023, ended June 30, 2022. NEW YORK-( BUSINESS WIRE)-Take-Two Interactive Software, Inc.
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