US-based Take-Two Interactive Software reported results for the fourth quarter and fiscal year 2023, which ended March 31, 2023. Fourth-quarter and full-year results include the Company’s combination with Zynga and affects the comparability of its results relative to last year.
The Grand Theft Auto publisher Take-Two Interactive’s completion of the acquisition of Zynga was confirmed on May 23, 2022. Take-Two‘s acquisition of Zynga is valued at approximately $12,7 billion.
The company provided its initial outlook for the fiscal year 2024, ending March 31, 2024, and fiscal first quarter 2024, ending June 30, 2023.
Fiscal Year 2023 Financial Highlights
- Net revenue increased 52.6% to $5.35 billion
- Net loss per share was $7.03
- Net cash provided by operating activities for the twelve-months ended March 31, 2023 was $1.1 million
- Adjusted Unrestricted Operating Cash Flow (Non-GAAP) for the twelve-months ended March 31, 2023 was $55.7 million
- Net Bookings were $5.28 billion
Net revenue increased 53% to $5.35 billion, as compared to $3.50 billion in fiscal year 2022. Recurrent consumer spending increased 84% and accounted for 78% of total net revenue. Digitally-delivered net revenue increased 62% to $5.09 billion, as compared to $3.15 billion in fiscal year 2022, and accounted for 95% of total 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, Red Dead Redemption 2 and Red Dead Online, Words With Friends, and Merge Dragons. Net loss was $1.12 billion, or $7.03 per share, as compared to net income of $418.0 million, or $3.58 per diluted share, for the comparable period last year.
Take-Two shared the full report on its website with detailed information for each quarter.
