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Take-Two’s mobile portfolio fuels growth as net bookings reach $1.37 billion

Take-Two’s mobile portfolio fuels growth as net bookings reach $1.37 billion

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Take-Two Interactive reported a 3% year-over-year increase in total net bookings for the fiscal third quarter, reaching $1.27 billion compared to $1.34 billion the previous year.

That’s according to its latest financials, which show that net bookings from recurrent consumer spending grew 9%, making up 79% of total net bookings. 

The top contributors to net bookings included NBA 2K25, Grand Theft Auto Online and V, Toon Blast, Match Factory!, Empires & Puzzles, Red Dead Redemption 2 and Red Dead Online, Words With Friends, and Toy Blast. 

GAAP net revenue for the fiscal third quarter was $1.36 billion, slightly down from $1.37 billion last year. Meanwhile, recurrent consumer spending increased by 5%, making up 80% of total GAAP net revenue. 

All of the firm’s aforementioned titles were also the biggest contributors to GAAP net revenue, including NBA 2K24 and the hypercasual mobile portfolio. The company reported a GAAP net loss of $125.2m ($0.71 per share), compared to a loss of $91.6m ($0.54 per share) in the same period last year.

Big releases planned for the year

Looking ahead, Take-Two said it expects a strong calendar year, with major game launches planned, including Grand Theft Auto VI in the fall of 2025. 

It’s mobile portfolio remains a significant contributing factor to both net bookings and overall revenue. The company is continuing to invest in its development pipeline and is confident in Zynga’s ability to create new mobile franchises, as shown by the success of Match Factory. 

“We achieved solid results during the holiday season,” said chairman and CEO of Take-Two Interactive Strauss Zelnick. “Our Net Bookings of $1.37 billion were within our guidance range, as significant outperformance in NBA 2K helped to offset moderation experienced in several of our mobile franchises.” 

“At the same time, our operating results surpassed expectations, led by the upside from NBA 2K, as well as a shift in timing of expenses that benefited the quarter. For Fiscal 2025, we are reiterating our Net Bookings guidance range of $5.55 to $5.65 billion and our outlook for operating performance. 

“Our projections for the fourth quarter balance strength in NBA 2K with a continuation of the current mobile trends, and the shift of some operating expenses into the period.”

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