Take-Two Interactive Software Reports Slight Revenue Decline in Q3 2024

Take-Two Interactive Software, Inc. recently released its financial report for the third quarter of 2024, revealing a 3% decrease in net revenue compared to the same period last year. The company’s net revenue for Q3 2024 amounted to $1.37 billion. Despite the decline, Take-Two Interactive Software remains a dominant player in the gaming industry.

Instead of providing a direct quote from the company, we can highlight that despite the slight dip in revenue, Take-Two Interactive Software continues to create captivating and immersive gaming experiences that engage players worldwide. Its diverse portfolio of popular franchises, including Grand Theft Auto and NBA 2K, has contributed to its enduring success.

In addition to net revenue, the report touched upon the company’s net bookings, which also experienced a 3% decrease, amounting to $1.34 billion for the third quarter. This metric represents the sum of net revenue and changes in deferred net revenue. While a decline was observed, Take-Two Interactive Software remains optimistic about its future prospects.

Looking ahead, Take-Two Interactive Software provided financial guidance for the fourth quarter of 2024. The company expects net revenue to range between $1.32 billion and $1.37 billion, with a projected loss per share between $1.00 and $0.90. For the entire fiscal year 2024, the company anticipates revenues of $5.27 billion to $5.32 billion, and a loss per share ranging from $5.95 to $5.85.

It’s worth noting that the performance of Take-Two Interactive Software in previous years has been noteworthy. The company has consistently delivered innovative and high-quality gaming experiences, satisfying the demands of an ever-evolving market. With its strong portfolio and enduring creativity, Take-Two Interactive Software is well-positioned to continue thriving in the gaming industry.

Frequently Asked Questions (FAQs):

1. How did Take-Two Interactive Software perform in the third quarter of 2024?
Take-Two Interactive Software reported a 3% decrease in net revenue and net bookings compared to the same period last year. The company’s net revenue for Q3 2024 amounted to $1.37 billion.

2. Despite the decline in revenue, what sets Take-Two Interactive Software apart in the gaming industry?
Take-Two Interactive Software remains a dominant player in the gaming industry due to its ability to create captivating and immersive gaming experiences that engage players worldwide. The company’s diverse portfolio of popular franchises, including Grand Theft Auto and NBA 2K, has contributed to its enduring success.

3. What are net bookings?
Net bookings represent the sum of net revenue and changes in deferred net revenue. In the third quarter of 2024, Take-Two Interactive Software’s net bookings experienced a 3% decrease, amounting to $1.34 billion.

4. What are Take-Two Interactive Software’s financial projections for the fourth quarter of 2024?
For the fourth quarter of 2024, Take-Two Interactive Software expects net revenue to range between $1.32 billion and $1.37 billion. The company also projects a loss per share between $1.00 and $0.90.

5. What are the anticipated revenues and loss per share for the entire fiscal year 2024?
Take-Two Interactive Software anticipates revenues ranging from $5.27 billion to $5.32 billion for the entire fiscal year 2024. The company also forecasts a loss per share ranging from $5.95 to $5.85.

Key terms:

– Net revenue: The total revenue generated by a company after deducting any discounts, refunds, or allowances for returned or damaged goods, as well as any sales taxes.
– Net bookings: The sum of net revenue and changes in deferred net revenue. It represents the total value of customer orders received during the reporting period.
– Loss per share: The amount of loss incurred by a company for each outstanding share of its common stock. It is calculated by dividing the net loss by the number of outstanding shares.
– Franchises: Established and successful intellectual properties or series of products, such as video games, that have a dedicated fan base and multiple installments or iterations.

Suggested related links:
Take-Two Interactive Software