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Take-Two Sees Soaring Revenue and Bookings
Compared to the previous year period, Take-Two Interactive (NASDAQ: TTWO) saw revenue grow 56% in its third fiscal quarter ending 12/31/22. Bookings for the quarter grew 60% over the previous year to $1.38 billion. However, the company also reported a net loss for the quarter of $153 million versus net income of $145 million in the third quarter ending 12/31/21.
Analysis
Making a year-over-year comparison for Take-Two results is difficult as the company is a…..
Take-Two Could Have Make or Break 2023
In January 2022, Take-Two Interactive (NASDAQ: TTWO) announced one of the biggest game industry acquisitions ever with a $12+ billion purchase of mobile game provide Zynga. That news lasted for a week until it was overshadowed by Microsoft’s planned purchase of Activision Blizzard for $68 billion.
While the Microsoft/ATVI deal is struggling to get approval, the Take-Two/Zynga deal was easily completed in May. Now Take-Two is struggling with the difficult process of combin…..
Take-Two Results Reflect Zynga Acquisition
Take-Two Interactive (NASDAQ: TTWO) reported a substantial revenue increase for the first six months of fiscal 2023 ending 9/30/22. Revenue for the six-month period was up 54% to $3.9 billion. However, the company reported a loss of $361 million.
Analysis
In late May, Take-Two completed its $12 billion acquisition of Zynga and that is responsible for both the revenue gain and the loss. Like most…..
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