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Take-Two Interactive (NASDAQ: TTWO) reported revenue of $5.35 billion for the fiscal year ending 3/31/23. This beat the guidance of $5.24 to 5.29 billion. However, the company reported a net loss of $1.13 billion versus guidance that the loss would be in the $700 million range.
For fiscal 2024, ending 3/31/24, Take-Two is forecasting revenue to remain relatively flat at $5.37 to $5.47 billion. Net loss is anticipated in the $500 million range.
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.
Making a year-over-year comparison for Take-Two results is difficult as the company is absorbin…..
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…..