Press release
Take-Two Interactive Software, Inc. Reports Results for Fiscal Third Quarter 2023
GAAP net revenue increased 56% to $1.41 billion GAAP net loss per share was $0.91 GAAP net cash provided by operating activities for the nine-months ended
About this update from Take-two Interactive Software, Inc.
[{"type":"text","content":"\nGAAP net revenue increased 56% to $1.41 billion\n\nGAAP net loss per share was $0.91\n\nGAAP net cash provided by operating activities for the nine-months ended December 31, 2022 was $35.8 million\n\nAdjusted Unrestricted Operating Cash Flow (Non-GAAP) for the nine-months ended December 31, 2022 was $122.9 million\n\nNet Bookings grew 60% to $1.38 billion\n\nCompany updates outlook for fiscal year 2023, including Net Bookings of $5.2 to $5.25 billion\n\n NEW YORK--(BUSINESS WIRE)--\nTake-Two Interactive Software, Inc. (NASDAQ:TTWO) today reported results for the third quarter of its fiscal year 2023, ended December 31, 2022. Third quarter results include the Company's combination with Zynga, which closed on May 23, 2022, and affects the comparability of its results relative to last year. In addition, the Company revised its outlook for fiscal year 2023, ending March 31, 2023, and provided its initial outlook for the fourth quarter of fiscal year 2023, ending March 31, 2023. For further information, please see the third quarter fiscal 2023 results slide deck posted to the Company’s investor relations website at take2games.com/ir.\n\nThird Quarter Fiscal 2023 Financial Highlights\n\nGAAP net revenue increased 56% to $1.41 billion, as compared to $903.3 million in last year’s fiscal third 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 104% and accounted for 79% of total GAAP net revenue. Digitally-delivered GAAP net revenue increased 68% to $1.34 billion, as compared to $795.7 million in last year’s fiscal third quarter, and accounted for 95% of total GAAP net revenue. The largest contributors to GAAP net revenue were NBA® 2K23 and NBA 2K22; Grand Theft Auto® Online and Grand Theft Auto V; Empires & Puzzles™; Toon Blast™; Rollic's hyper-casual portfolio; Red Dead Redemption® 2 and Red Dead Online; Words With Friends™; Merge Dragons!™; and Toy Blast™.\n\nGAAP net loss was $153.4 million, or $0.91 per share, as compared to net income of $144.6 million, or $1.24 per diluted share, for the comparable period last year.\n\nDuring the nine-month period ended December 31, 2022, GAAP net cash provided by operating activities was $35.8 million, as compared to $19.2 million in the same period last ye...