Take-Two Interactive Software, Inc.
CEO : Mr. Strauss H. Zelnick Esq., J.D.
Quarterly earnings growth(YoY,%)
| Period | Revenue | Operating Income | EPS | Release Date |
|---|---|---|---|---|
| 2024 Q1 | 16.5% YoY | -9386.4% | 87.7% | 2023-08-08 |
Strauss Zelnick says,
Net bookings and management results
- Fiscal 2024 first-quarter net bookings were $1.2 billion, which was at the high end of expectations.
- Management results were in line with plans.
Grand Theft Auto V and Grand Theft Auto Online
- Grand Theft Auto V has sold-in more than 185 million units to date.
- San Andreas Mercenaries update for Grand Theft Auto Online introduced new missions, features, and vehicles.
- June saw more players on Grand Theft Auto Online than any other June, except during the pandemic.
- GTA+ membership service for GTA Online on PlayStation 5 and Xbox Series X and S is experiencing strong adoption.
Red Dead Redemption 2 and Red Dead Online
- Red Dead Redemption 2 has sold-in more than 55 million units.
- Red Dead Online continues to receive support and seasonal content updates.
NBA 2K23
- NBA 2K23 has sold-in over 13 million units, representing an 11% year-over-year growth.
- Engagement remains strong, with approximately 2.6 million Daily Active Users.
- NBA 2K23 Arcade Edition is one of the top games on Apple Arcade.
Other game highlights
- WWE 2K23 received strong engagement, with players logging nearly 22 million hours of gameplay.
- PGA TOUR 2K23 and LEGO 2K Drive were launched with ongoing support.
- After Us, developed by Piccolo Studio, received positive reviews.
Zynga
- Zynga had a solid start to the year, performing in line with plans.
- Toon Blast surpassed $2 billion in lifetime gross bookings.
- Progress made on profitability initiatives in mobile.
- Several new games in development and soft launch.
Outlook
- Reiterating prior guidance of $5.45 to $5.55 billion in net bookings for fiscal 2024.
Karl Slatoff says,
Red Dead Redemption and Undead Nightmare Coming to Nintendo Switch and PlayStation 4
- Rockstar Games announced a new single package that includes Red Dead Redemption and Undead Nightmare for the Nintendo Switch and PlayStation 4.
- The new versions will be released on August 17 and offer backwards compatibility with the PlayStation 5.
25th Anniversary of NBA 2K Series and NBA 2K24 Launch
- 2K and Visual Concepts will celebrate the 25th anniversary of the NBA 2K series with the launch of NBA 2K24 on September 8.
- Kobe Bryant will be the game’s cover athlete for the second time.
- NBA 2K24 will introduce cross-play for PlayStation 5 and Xbox Series X and S, allowing players to compete with others from around the world in multiplayer modes.
- The title will also feature ProPLAY, a new technology that translates actual NBA footage into gameplay.
Upcoming Releases: WWE 2K24, Penny’s Big Breakaway, Star Wars: Hunters, Top Troops, and Mobile Titles
- 2K and Visual Concepts are working on WWE 2K24, the next installment of the wrestling series.
- Penny’s Big Breakaway, a 3D action platformer from the team behind Sonic Mania, is expected to launch in early 2024.
- Zynga’s Star Wars: Hunters, a third-person combat game set in the Star Wars galaxy, is scheduled to launch later this fiscal year.
- Social Point’s Top Troops, a medieval fantasy-themed PvP merge game, is progressing well in soft launch and will launch worldwide this fiscal year.
- The hyper-casual studios will release a steady cadence of mobile titles throughout the year, focusing on games with enhanced retention rates and a mix of in-app purchases and advertising.
Continued Support and Content for Existing Offerings
- The company will continue to provide new content and experiences for Grand Theft Auto Online, Red Dead Online, WWE 2K, LEGO 2K Drive, PGA TOUR 2K, Kerbal Space Program 2, and Zynga’s mobile portfolio.
Strong Development Pipeline for Fiscal Year 2024
- The company expects to launch additional releases throughout fiscal year 2024 from what they consider to be their strongest and most exciting development pipeline in their history.
Q & A sessions,
Market Performance
- The market for interactive entertainment was down over 10% in 2022, the first time in the history of the mobile business
- Year-over-year comps have stabilized
- Growth is being seen in the console market, although it is still early
- Mobile market is slightly flat or down, with hopes for improvement
Economic Outlook
- The speaker expects the economy to bottom out in June/July and begin to see some good news by the end of calendar ’23
- The speaker believes that by early ’24, the company will be in a reasonably good economic position
Entertainment Business Challenges
- Entertainment consumed at home during the pandemic has been challenging
- The speaker mentions seeing some normalization, but it is still early days
- Live entertainment is performing well
Licensing Approach
- The company has a selective approach to licensing film and television projects
- They will not use their balance sheet to invest in such projects
- There are opportunities for licensing in the future, based on creative imperative and economic opportunity
- The company will not bet its future or intellectual property value on someone else’s execution in the entertainment business
Economic Opportunity
- The speaker believes the economic opportunity in film and television projects is relatively small compared to the core business
No bad stock 