Today Take-Two Interactive Software announced its financial results for the third quarter of the fiscal year 2022, which ended on Dec. 31, 2021.
Below you can check out a summary of the company’s performance, which is defined “strong” in the press release.
- GAAP net revenue increased 5% to $903.3 million
- GAAP net income per diluted share was $1.24
- GAAP net cash provided by operating activities for the nine-months ended December 31, 2021 was $19.2 million
- Adjusted Unrestricted Operating Cash Flow (Non-GAAP) for the nine-months ended December 31, 2021 was $278.9 million
- Net Bookings grew 6% to $866.1 million
We also hear that the outlook for the full fiscal year for net bookings has been raised to between $3.37 billion and $3.42 billion.
Cited among the major contributors to the results are NBA 2K22 and NBA 2K21, Grand Theft Auto Online and Grand Theft Auto V, Grand Theft Auto: The Trilogy – The Definitive Edition, Red Dead Redemption 2 and Red Dead Online, Grand Theft Auto: San Andreas, Borderlands 3, and Two Dots.
The press release also included the traditional comment from Chief Executive Officer Strauss Zelnick, who boasted about the results and talked about the acquisition of Zynga, on top of delivering the usual tease about the “pipeline of new intellectual properties and eagerly anticipated sequels” which he does basically every quarter.
“Our third quarter performance was outstanding, highlighted by Net Bookings of $866 million, which exceeded our expectations and increased 6% over last year. Fiscal 2022 is shaping up to be another strong year for Take-Two, and we are once again raising our Net Bookings guidance for the year to $3.37 billion to $3.42 billion.
“We remain highly optimistic about the future of the interactive entertainment industry and our multi-year growth trajectory. From investing in talent to acquiring some of the industry’s leading creative studios and announcing our transformational agreement to combine with Zynga, we are taking exciting steps to diversify our business, gain market share and enhance our positioning as one of the world’s top three pure-play publishers of interactive entertainment. Together with our incredible pipeline of new intellectual properties and eagerly anticipated sequels, we are confident that we are positioning our business for long-term success and shareholder value creation.”
We also get a series of highlights from Take-Two’s brands.
Take-Two:
- On January 9th, entered into a definitive agreement, under which Take-Two will acquire all of the outstanding shares of Zynga in a cash and stock transaction valued at $9.861 per Zynga share, based on the market close as of January 7, 2022, with a total enterprise value of approximately $12.7 billion. Under the terms and subject to the conditions of the agreement, Zynga stockholders will receive $3.50 in cash and $6.361 in shares of Take-Two common stock for each share of Zynga common stock outstanding at the closing of the transaction. The transaction, which is expected to be completed during the first quarter of Take-Two’s Fiscal Year 2023, ending June 30, 2022, is subject to the approval of both Take-Two and Zynga stockholders and the satisfaction of customary closing conditions, including applicable regulatory approvals.
Rockstar Games:
- On November 11th, Rockstar Games launched digitally Grand Theft Auto: The Trilogy – The Definitive Edition featuring 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 launched physically for consoles on December 17th and will release for iOS and Android devices in the first half of calendar 2022.
- Released new free content updates for Grand Theft Auto Online:
- 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.
- On December 15th, launched The Contract, an all-new Grand Theft Auto Online story as players, whether solo or in a group, team up with returning Grand Theft Auto V protagonist Franklin Clinton and track down missing new music from Grammy-Award winning artist, legendary producer and this year’s Super Bowl half-time show headliner, Dr. Dre. The update also features new co-op story missions with Franklin and sidekick Lamar Davis as playable characters; a new social space – Record A Studios – where players can hang out with Dr. Dre and special guests; a new radio station hosted by global pop stars ROSALÍA and Arca called Motomami Los Santos, named after ROSALÍA’s forthcoming album; new updates to two existing radio stations from L.A. DJ royalty, DJ Pooh and Big Boy; six exclusive new tracks by Dr. Dre which officially released to streaming services this past Friday; and new purchasable properties, vehicles, and more.
- Throughout the quarter, Red Dead Online received a series of updates, including the fourth installment of The Quick Draw Club and holiday-themed content including All Hallows’ Call to Arms, The Halloween Pass 2, and the Holiday Call to Arms.
- On March 15th, Rockstar Games will launch Grand Theft Auto V for PlayStation 5 and Xbox Series X|S, bringing the blockbuster entertainment experience to an unprecedented third console generation. This new release features new graphics modes with up to 4K resolution, up to 60 frames per second, texture and draw distance upgrades, HDR options and ray-tracing, as well as faster loading times, immersive 3D audio, platform-specific features and much more. Also coming in March is the standalone version of Grand Theft Auto Online, which will be free on PlayStation 5 for the first three months, enabling new players to join the thriving community on the latest hardwarefor new-generation consoles.
2K: