Take-Two Annual Financial Results: 2022

Take-Two Interactive’s financial results for the fiscal year ending March 31, 2022, highlight a business model increasingly reliant on recurrent consumer spending. The company reported $3.5 billion in net revenue, a 4% year-over-year decline, with net income falling 29% to $418 million. Despite these decreases, in-game purchases emerged as the primary revenue driver, accounting for 65% of total annual earnings—a 6% increase compared to the previous year.

The company’s performance was bolstered by strong sales across its core franchises. Grand Theft Auto V surpassed 165 million units sold globally, while Red Dead Redemption 2 reached 44 million units. Other key intellectual properties, including the NBA 2K, Borderlands, and BioShock series, continued to demonstrate significant market longevity. Furthermore, the company maintained a strong international presence, notably with NBA 2K Online, which serves nearly 57 million registered users in China.

Looking ahead, Take-Two projects revenue between $3.67 billion and $3.77 billion for fiscal year 2023. Management intends to prioritize organic growth while integrating the acquisition of Zynga to bolster its mobile and intellectual property portfolio. The company’s development pipeline is robust, with 18 titles planned for fiscal year 2023, including six major "immersive core" releases. Looking further into the future, the company has scheduled 51 total releases across fiscal years 2024 and 2025, spanning immersive core titles, independent games, and free-to-play mobile offerings.