Take-Two bookings grew 8% to $846M in March quarter
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Take-Two Interactive reported revenues for its fourth fiscal quarter ended March 31 today, saying net bookings of $845.8 million, up 8% from a year ago. Wall Street is happy with the results, as the stock up 2% to $112.50 a share in after-hours trading.
Take-Two is poised to play an even bigger role in gaming with its pending acquisition of Zynga for $12.7 billion — a move that will make more than half of all bookings come from the fast-growing market for mobile games.
The company said that existing titles — from the NBA, Grand Theft Auto, Red Dead Redemption, and Borderlands franchises — as well as newish Grand Theft Auto: The Trilogy — The Definitive Edition helped grow revenues in the quarter. Strauss Zelnick, CEO of Take-Two, said in an interview with GamesBeat that WWE 2K22 and Tiny Tina’s Wonderlands (both released in March) both exceeded expectations.
“It was once again a great quarter,” Zelnick said. “Net bookings grew 8% We had great success with WWE 2K22 and Tiny Tina’s Wonderlands. Both outperformed our expectations, as did Red Dead Redemption 2. We’re excited about that. We also are establishing our initial guidance for a standalone business and this fiscal year of $3.75 billion to $3.85 billion in net bookings with very significant earnings. So it’s a good story across the board.”
The company’s Rockstar Games label recently teased that it is working on Grand Theft Auto VI, but the company didn’t say anything more about that. Zelnick said the company leaves such announcements up to its labels, in this case Rockstar.
Revenue for the New York video game publisher came in at $930 million (up 11% from a year ago)
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