Press release
Take-Two Interactive Software, Inc. Reports Results for Fiscal Second Quarter 2023
GAAP net revenue increased 62% to $1.4 billion GAAP net loss per share was $1.54 GAAP net cash provided by operating activities for the six-months ended
About this update from Take-two Interactive Software, Inc.
[{"type":"text","content":"\nGAAP net revenue increased 62% to $1.4 billion\n\nGAAP net loss per share was $1.54\n\nGAAP net cash provided by operating activities for the six-months ended September 30, 2022 was $155.4 million\n\nAdjusted Unrestricted Operating Cash Flow (Non-GAAP) for the six-months ended September 30, 2022 was $(17.1) million\n\nNet Bookings grew 53% to $1.5 billion\n\nCompany updates outlook for fiscal year 2023, including Net Bookings of $5.4 billion to $5.5 billion\n\n NEW YORK--(BUSINESS WIRE)--\nTake-Two Interactive Software, Inc. (NASDAQ:TTWO) today reported strong results for the second quarter of its fiscal year 2023, ended September 30, 2022, reflecting its first full quarter of operations since the combination with Zynga earlier this year. In addition, the Company revised its outlook for fiscal year 2023, ending March 31, 2023, and provided its initial outlook for the third quarter of fiscal year 2023, ending December 31, 2022. For further information, please see the second quarter fiscal 2023 results slide deck posted to the Company’s investor relations website at take2games.com/ir.\n\nSecond Quarter Fiscal 2023 Financial Highlights\n\nGAAP net revenue increased 62% to $1.4 billion, as compared to $858.2 million in last year’s fiscal second quarter. Recurrent consumer spending (which is generated from ongoing consumer engagement and includes virtual currency, add-on content, in game purchases and in-game advertising) increased 95% and accounted for 79% of total GAAP net revenue. Digitally-delivered GAAP net revenue increased 69% to $1.3 billion, as compared to $779.1 million in last year’s fiscal second quarter, and accounted for 95% of total GAAP net revenue. The largest contributors to GAAP net revenue were NBA® 2K22 and NBA 2K23; Grand Theft Auto® Online and Grand Theft Auto V; Empires & Puzzles™; Rollic's hyper-casual portfolio; Toon Blast™; Red Dead Redemption® 2 and Red Dead Online; Words With Friends™; Merge Dragons!™; and Toy Blast™.\n\nGAAP net loss was $257.0 million, or $1.54 per share, as compared to net income of $10.2 million, or $0.09 per diluted share, for the comparable period last year.\n\nDuring the six-month period ended September 30, 2022, GAAP net cash provided by operating activities was $155.4 million, as compared to $283.7 million in the same period last year. During the six-month period ended Septembe...