Take-Two’s bookings grew 53% to $1.5 billion in September quarter but lowers outlook
Staff, 2022-11-07 15:15:00,
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Take-Two Interactive said its bookings grew 53% to $1.5 billion in the second fiscal quarter ended September 30.
During the quarter, the New York company saw continued sales of Grand Theft Auto V, a blockbuster game launched in 2013, as cumulative sales grew to 170 million. However, the company lowered its guidance in the current third fiscal quarter ending December 31 (the all-important fourth calendar quarter) and the full fiscal year as it is wary of macroeconomic and geopolitical events.
The company said it saw healthy player engagement in the quarter, driven by new game releases, post-launch content updates, and updates for many mobile titles — even as consumers continued to navigate the effects of macroeconomic and geopolitical havok during FYQ2.
Net bookings came within Take-Two’s own guidance, but it was slightly short of the $1.52 billion that analysts were expecting, according to Zacks. Take-Two said the Grand Theft Auto V sales exceeded its expectations in the quarter. Foreign currency exchange rates negatively affected net bookings by 1%.
“We posted another consecutive quarter of solid results, with Net Bookings of $1.5 billion, underscoring our ability to launch exciting new games and content updates across our portfolio,” said Strauss Zelnick, chairman and CEO of Take-Two, in…
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