US publishing powerhouse Take-Two Interactive has unveiled a promising financial performance for the quarter ending December 2024, showcasing a three percent rise in net bookings. The company reported a robust .37 billion in net bookings, with a noteworthy 79 percent of this total attributed to recurrent consumer spending, which saw a commendable nine percent increase year-on-year.
Financial Highlights
Despite a slight dip in net revenue, which fell by 0.7 percent to .36 billion, the overall outlook remains optimistic. CEO and chair Strauss Zelnick, pictured, expressed confidence in the company’s trajectory, projecting a full financial year net booking range between .55 billion and .65 billion. This forecast sets the stage for what is anticipated to be a blockbuster fiscal year 2025/26, featuring the highly awaited releases of Grand Theft Auto 6, Mafia: The Old Country, and Borderlands 4.
“We achieved solid results during the holiday season,” Zelnick remarked. “Our net bookings of .37 billion were within our guidance range, as significant outperformance in NBA 2K helped to offset moderation experienced in several of our mobile franchises.” He further noted that the operating results exceeded expectations, driven by the success of NBA 2K and a strategic shift in the timing of expenses that positively impacted the quarter.
Looking ahead, Zelnick reiterated the company’s net bookings guidance for Fiscal 2025, maintaining the range of .55 to .65 billion while also providing an optimistic outlook for operating performance. “Our projections for the fourth quarter balance strength in NBA 2K with a continuation of the current mobile trends and the shift of some operating expenses into the period,” he concluded, underscoring Take-Two’s resilience and strategic foresight in a competitive market.
