Press release
Take-Two Interactive Software, Inc. Reports Strong Results for Fiscal Second Quarter 2022
GAAP net revenue increased 2% to $858.2 million GAAP net income per diluted share was $0.09 GAAP net cash provided by operating activities for the six-months
About this update from Take-two Interactive Software, Inc.
[{"type":"text","content":"\nGAAP net revenue increased 2% to $858.2 million\n\nGAAP net income per diluted share was $0.09\n\nGAAP net cash provided by operating activities for the six-months ended September 30, 2021 was $283.7 million\n\nAdjusted Unrestricted Operating Cash Flow (Non-GAAP) for the six-months ended September 30, 2021 was $56.1 million\n\nNet Bookings increased 3% to $984.9 million\n\nCompany raises its Net Bookings outlook for fiscal year 2022 to $3.3 to $3.4 billion \n\nCompany repurchased 1.26 million shares of common stock for approximately $200 million at an average share price of $158.67\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 2022, ending September 30, 2021. In addition, the Company raised its outlook for the fiscal year 2022, ending March 31, 2022, and provided its initial outlook for the third quarter of its fiscal year 2022, ending December 31, 2021. For further information, please see the second quarter fiscal 2022 results slide deck posted to the Company’s investor relations website at http://ir.take2games.com.\n\nSecond Quarter Fiscal 2022 Financial Highlights\n\nGAAP net revenue increased 2% to $858.2 million, as compared to $841.1 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 and in-game purchases) increased 8% and accounted for 66% of total GAAP net revenue. Digitally-delivered GAAP net revenue increased 7% to $779.1 million, as compared to $725.7 million in last year’s fiscal second quarter, and accounted for 91% of total GAAP net revenue. The largest contributors to GAAP net revenue were NBA® 2K22 and NBA 2K21; Grand Theft Auto® Online and Grand Theft Auto V; Red Dead Redemption 2 and Red Dead Online; Borderlands® 3; Two Dots®; Sid Meier’s Civilization® VI; and Dragon City®.\n\nGAAP net income was $10.3 million, or $0.09 per diluted share, as compared to $99.3 million, or $0.86 per diluted share, for the comparable period last year. Cost of goods sold included a $53 million impairment charge related to the Company's decision not to proceed with further development of an unannounced title in its pipeline.\n\nDuring the six month-period ended September 30, 2021, GAAP net cash provided ...