Today Take-Two Interactive Software announced its financial results for the second quarter of the fiscal year 2022, which ended on Sept. 30, 2021.
Below you can check out a summary of the company’s performance.
- GAAP net revenue was $858.2 million
- GAAP net income per diluted share increased to $0.09
- GAAP net cash provided by operating activities for the six-months ended September 30, 2021 was $283.7 million
- Adjusted Unrestricted Operating Cash Flow (Non-GAAP) for the three-months ended June 30, 2021 was $29 million
- Net Bookings were $984.9 million, above guidance
- Company reiterates outlook for fiscal year 2022
The press release also included a comment from Take-Two Chief Executive Officer Strauss Zelnick, who boasted about the results again being above expectations while also being optimistic about capitalizing on positive trends in the industry.
“Our second quarter results were outstanding, highlighted by Net Bookings of $985 million, which greatly exceeded our expectations and increased 3% as compared to last year. We experienced consistently strong engagement trends across our key franchises, underscoring the durability of our offerings and the deep relationships that we have established with new, existing, and returning players.”
“As a result of our better-than-expected second quarter operating results, along with our updated forecast for the balance of the year, we are raising our Net Bookings guidance for the year to $3.3 to $3.4 billion.”
“We remain highly optimistic about our ability to capitalize further on the positive trends of our industry. As we continue to harness and enhance our competitive advantages – our incredible creative talent, best-in-class marketing and technology, and strong balance sheet – we will introduce new entertainment experiences that we believe have vast commercial potential and the ability to drive long-term engagement and recurrent consumer spending. We also expect to continue to attract the very best creators who share in our vision to set new benchmarks and captivate audiences throughout the world.”
Below you can check out a few highlights from Take-Two’s brands.
Take-Two:
- The Company repurchased 1.26 million shares of common stock for approximately $200 million, at an average share price of $158.67 per share.
Rockstar Games:
- On November 11th, Rockstar Games will digitally launch Grand Theft Auto: The Trilogy – The Definitive Edition for PlayStation 5, PlayStation 4, Xbox Series X|S, Xbox One, Nintendo Switch, and the Rockstar Games Launcher for PC. The Definitive Edition will feature across-the-board upgrades for all three games, including graphical improvements and modern controls for all three titles, while still maintaining the classic and distinct aesthetic of the original games. Grand Theft Auto: The Trilogy – The Definitive Edition will launch physically for consoles on December 7th and will release for iOS and Android devices in the first half of calendar 2022. As part of the 20th anniversary celebration, fans can also collect an array of special commemorative gear in Grand Theft Auto Online throughout a series of upcoming events this Fall.
- Released new free content updates for Grand Theft Auto Online:
- On July 20th, delivered the Los Santos Tuners update, another major update for Grand Theft Auto Online’s evolving world. The Los Santos Tuners update brought a renewed focus to the underground street racing scene and introduced a host of innovative and highly requested features, including the LS Car Meet – a shared social space where players can get together to modify, test and race their cars, get tattoos, and more. The update also added 17 highly customizable vehicles, a shoppable auto workshop, new robbery Contracts and street races, and the ability to add music in a new way through collectible media sticks.
- Rockstar Games continued to provide an array of free content for their vast and growing online communities. To celebrate Halloween, Grand Theft Auto Online added a series of random events to shock and surprise players, including driverless phantom killer cars, superhuman slashers, UFOs that bend the laws of physics, and more, including bonuses on Alien Survival modes, and a new Arcade game.
- Released new free content updates for Red Dead Online:
- On July 13th, released the Blood Money update for Red Dead Online. The update introduced a series of criminal-themed opportunities; complex new missions, including the game’s first train robbery; and The Quick Draw Club – a series of four distinct, rapid-fire passes featuring criminal-themed unlockable rewards, bonuses, and more.
- Rockstar Games introduced new content to players following the Blood Money update, including new missions, contracts, special bonuses and rare items.
- Rockstar Games looks forward to launching the expanded and enhanced version of Grand Theft Auto V and a standalone version of Grand Theft Online for new-generation consoles in March 2022. Players will enjoy a range of technical and graphical improvements across the entire experience including performance enhancements for select vehicles in Grand Theft Auto Online, and much more.
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