Take-Two Interactive Reports Results for Fourth Quarter and Fiscal Year 2024

Key insights

6 takeaways

01
Take-Two Interactive generated $5.33 billion in net bookings for fiscal year 2024, with $1.35 billion contributed in the fourth quarter.See it on page 1
02
The company reported a $3.74 billion GAAP net loss for the fiscal year, largely due to $2.34 billion in goodwill impairment charges and intangible asset amortization.See it on page 2
03
Mobile platforms have become the company's primary growth driver, now accounting for 52% of total net bookings.See it on page 12
04
Management projects fiscal year 2025 net bookings to reach between $5.55 billion and $5.65 billion, supported by the scheduled fall 2025 launch of Grand Theft Auto VI.See it on page 1
05
Despite the annual net loss, the company maintained an EBITDA of $272 million and forecasts a return to higher profitability with projected EBITDA between $429 million and $483 million for fiscal year 2025.See it on page 4
06
Core revenue stability remains anchored by the Grand Theft Auto and Red Dead Redemption franchises alongside the consistent performance of NBA 2K24 and the Zynga mobile portfolio.See it on page 1

Summary

Take-Two Interactive concluded fiscal year 2024 with a complex financial profile characterized by robust operational performance alongside significant non-cash accounting losses. The company generated $5.33 billion in net bookings for the year, with the fourth quarter contributing $1.35 billion. This revenue stability was underpinned by the enduring popularity of core franchises, including Grand Theft Auto and Red Dead Redemption, as well as the consistent performance of NBA 2K24 and a diverse mobile portfolio under the Zynga brand. Mobile platforms have emerged as the primary engine of growth, now accounting for 52% of total net bookings.

Despite these operational successes, the company reported a GAAP net loss of $3.74 billion for the fiscal year. This deficit was primarily driven by $2.34 billion in goodwill impairment charges and the amortization of acquired intangibles, which obscured the underlying health of the business. While these non-cash impacts weighed heavily on the bottom line, the company maintained an EBITDA of $272 million. Management remains optimistic regarding future profitability, projecting a return to positive EBITDA between $429 million and $483 million for fiscal year 2025.

Looking toward the upcoming fiscal cycle, the company anticipates continued growth with projected net bookings between $5.55 billion and $5.65 billion. This outlook is bolstered by a strategic release schedule, most notably the highly anticipated launch of Grand Theft Auto VI, which is confirmed for the fall of calendar 2025. By balancing the integration of its mobile acquisitions with the development of major console titles, the company aims to transition from its current period of reorganization and impairment-related losses toward sustained operational expansion.