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Take-Two Interactive Fourth Quarter and Fiscal 2021 Results
Take-Two Interactive’s fiscal year 2021 results demonstrate strong financial performance, characterized by record-breaking net bookings and significant growth in recurrent consumer spending.
- Take-Two Interactive achieved record-breaking fiscal 2021 net bookings of $3.55 billion, exceeding initial guidance by approximately $1 billion.
- Recurrent consumer spending, including in-game purchases and DLC, reached a record 63% of total net bookings for fiscal 2021.
- Adjusted unrestricted operating cash flow for fiscal 2021 hit a record $920 million, outperforming initial expectations by $570 million.
Take-Two Interactive Third Quarter Fiscal 2021 Results
Take-Two Interactive’s third quarter fiscal 2021 results demonstrate a period of sustained financial growth and operational stability for the global video game publisher.
- Take-Two Interactive reported sustained financial growth in Q3 fiscal 2021, characterized by year-over-year increases in both net bookings and net revenue.
- Recurrent consumer spending remains the primary driver of the company’s financial performance, accounting for a significant portion of total net bookings.
- Core intellectual properties, specifically the Grand Theft Auto and NBA 2K franchises, continue to serve as the foundational pillars for the company's revenue generation.
Take-Two Interactive Second Quarter Fiscal 2021 Results
Take-Two Interactive’s second quarter fiscal 2021 results demonstrate a period of robust financial performance characterized by significant growth in digital revenue and recurrent consumer spending.
- Take-Two Interactive reported net bookings of $958 million for the second quarter of fiscal 2021, a slight increase from $951 million in the same period of the prior year.
- Net cash from operating activities surged to $627 million for the first six months of fiscal 2021, significantly outpacing the $144 million generated during the same period in the previous year.
- Recurrent consumer spending, driven by in-game purchases and downloadable content, remains a primary revenue driver and accounts for a substantial portion of total net bookings.
Take-Two Interactive Quarterly Report: Q2 FY2020
Take-Two Interactive demonstrated robust financial expansion during the second quarter of fiscal year 2020, characterized by significant year-over-year growth in both net revenue and net income.
- Take-Two Interactive reported significant revenue growth driven by the September 2019 launch of Borderlands 3 and continued performance from Red Dead Redemption 2, which has sold-in over 25 million units to date.
- Grand Theft Auto V remains a cornerstone of the company's portfolio with over 115 million units sold worldwide, though the company noted a decrease in net revenue from Grand Theft Auto Online during the period.
- Operating expenses rose by 35.8% to $314.8 million for the quarter ended September 30, 2019, primarily due to a $55.4 million increase in selling and marketing costs associated with the release of Borderlands 3.
Take-Two Interactive Form 10-Q: Q1 FY2020
Take-Two Interactive experienced a period of robust top-line growth during the first quarter of fiscal year 2020, ending June 30, 2019.
- Take-Two Interactive reported net revenue of $540.5 million for the quarter ended June 30, 2019, representing a 39.3% increase compared to $388.0 million in the same period of 2018.
- Net income declined to $46.3 million for the quarter ended June 30, 2019, down from $71.7 million in the prior year period, driven by higher costs of goods sold and increased operating expenses.
- Grand Theft Auto products accounted for 28% of net revenue, while Red Dead Redemption titles contributed 16% of net revenue for the quarter ended June 30, 2019.
Take-Two Interactive Form 10-Q: Q3 Fiscal Year 2019
Take-Two Interactive experienced substantial financial growth during the third quarter of fiscal year 2019, ending December 31, 2018.
- Take-Two reported a significant revenue increase of 159.7% for the quarter ended December 31, 2018, reaching $1.25 billion compared to $480.8 million in the prior year period.
- The successful October 2018 launch of 'Red Dead Redemption 2' was a primary driver of performance, contributing to a $108.7 million tax benefit from a reduction in the valuation allowance on U.S. deferred tax assets.
- Net income for the quarter surged to $179.9 million, up from $25.1 million in the same period of the previous year.
Take-Two Interactive Form 10-Q: Q2 FY2019
Take-Two Interactive’s financial performance for the second quarter of fiscal year 2019 reflects a period of significant growth and structural transition.
- Take-Two reported net revenue of $492.7 million for the quarter ended September 30, 2018, an 11.1% increase compared to $443.6 million in the same period of 2017.
- Digital online channels accounted for 72.7% of total revenue in the quarter, up from 68.3% in the prior year period, while physical retail revenue declined to 27.3% of the total.
- Recurrent consumer spending—including virtual currency, add-on content, and online services—remained a primary revenue driver, contributing 48.8% of total revenue for the quarter.
Take-Two Interactive Form 10-Q: Q1 FY2019
Take-Two Interactive’s financial performance for the first quarter of fiscal year 2019 reflects a period of strategic transition, characterized by the adoption of the new revenue accounting standard, Topic 606.
- Grand Theft Auto products remain the primary revenue driver, accounting for 47% of Take-Two’s net revenue for the quarter ended June 30, 2018.
- The company’s revenue concentration is high, with its five largest customers accounting for 78.7% of net revenue during the quarter ended June 30, 2018.
- Digital online channels grew significantly to represent 81.2% of total net revenue, up from 64.1% in the prior year period.
Take-Two Interactive Annual Report: Form 10-K FY2018
Take-Two Interactive’s fiscal year 2018 annual report outlines a strategic pivot toward digital-first distribution and recurring consumer spending to sustain long-term growth.
- Take-Two Interactive reported a significant increase in net income to $173.5 million for the fiscal year ended March 31, 2018, compared to $67.3 million in the prior year.
- Console platforms (Sony PS4/PS3, Microsoft Xbox One/360, and Nintendo Switch) remained the primary revenue driver, accounting for 81.6% of net revenue in fiscal year 2018.
- The company experienced a 25.9% increase in net revenue, growing from $1.41 billion in fiscal 2016 to $1.78 billion in fiscal 2017.
Take-Two Interactive Form 10-Q: Q2 FY2018
Take-Two Interactive’s financial performance for the second quarter of fiscal year 2018 reflects a strategic transition toward digital distribution and recurrent consumer spending, even as the company navigates short-term accounting adjustments and operational shifts.
- Recurrent consumer spending—driven by NBA 2K and Grand Theft Auto Online—grew significantly, accounting for 44.9% of net revenue for the six months ended September 30, 2017, compared to 30.9% in the prior year period.
- In June 2017, the company extended the estimated service period for Grand Theft Auto V from 41 to 50 months (through December 2018), resulting in a $104.4 million reduction in net revenue for the six months ended September 30, 2017.
- Total operating expenses rose by 24.5% ($40.9 million) for the quarter, largely due to a 66.6% increase in research and development costs and a 152.1% increase in depreciation and amortization.
Take-Two Interactive Form 10-Q: Q1 FY2018
Take-Two Interactive achieved a significant financial turnaround during the first quarter of fiscal year 2018, ending June 30, 2017.
- Take-Two Interactive reported a net income of $60.3 million for the quarter ended June 30, 2017, a significant turnaround from the $38.6 million net loss recorded in the same period of 2016.
- Net revenue grew 34.2% year-over-year to $418.2 million, driven by a strong shift toward digital distribution, which accounted for 64.1% of total revenue compared to 55.2% in the prior year.
- Gross profit increased by 86.1% to $223.6 million, with gross margin expanding from 38.6% to 53.5% due to improved cost management in software development and royalties.
Take-Two Interactive Form 10-Q: Q3 2017
Take-Two Interactive’s financial performance for the third quarter of fiscal year 2017 reflects a strategic pivot toward digital-first revenue streams and the sustained success of its core franchises.
- Digital online revenue grew to 50.4% of total net revenue for the quarter ended December 31, 2016, up from 40.3% in the same period the prior year, driven by strong performance from Grand Theft Auto Online and the NBA 2K franchise.
- Physical retail revenue declined to 49.6% of total net revenue for the quarter ended December 31, 2016, compared to 64.6% in the prior year period, primarily due to lower sales of Grand Theft Auto V and Evolve.
- Gross profit margin decreased to 34.7% for the quarter ended December 31, 2016, down from 37.7% in the prior year, due to higher software development costs, amortization of capitalized software, and the timing of internal royalty payments.