Published , by Ozzie Mejia
Published , by Ozzie Mejia
Take-Two Interactive (TTWO) has issued its earnings report for Q2 2024. The company is being cagey with many of its numbers, but has reported in with $1.3 billion USD in revenue. Still, this number is less than the $1.4 billion estimated by Wall Street.
"Our strong second quarter results, including Net Bookings of $1.4 billion, underscore the strength of our portfolio of iconic, industry-leading intellectual properties," Chairman and CEO Strauss Zelnick said in the Take-Two Q2 2024 earnings report. "During the period, our teams released new offerings, delivered engaging post-launch content, and advanced further the development of our eagerly-anticipated pipeline. While we expect continued macroeconomic uncertainty, we believe that we are well positioned for the holiday season and are reiterating our fiscal 2024 Net Bookings guidance of $5.45 to $5.55 billion."
Take-Two reported a $1.44 billion total net bookings number, which is a four percent decrease. The company also reported a GAAP net loss of $543.6 million or $3.20/share, which is up from the $257.0 million or $1.54/share number year-over-year. However, the GAAP results factor in "impairment charges of $219.7 million related to intangible assets and $165.4 million, related to goodwill, representing a partial impairment of one of our reporting units."
Of course, Take-Two's latest fiscal quarter numbers are almost irrelevant to the latest stock price. In the wake of the recent Grand Theft Auto 6 news, Take-Two stock rose $7.11/per share to end the trading day on Wednesday, November 8. That number has continued to rise in after-hours trading, showing an increase of $6.53/share as of the time of this writing.
We're making sure to monitor everything coming out of Take-Two Interactive and its various subsidiaries. Be sure to check out the TTWO Q2 2024 earnings call. We'll continue to offer any updates as they come in.