(News Bulletin 247) – Take-Two publishes revenue of $1,446 million for the 4th quarter of its fiscal year 2023 (i.e. the period between January 1 and March 31, 2023), an increase of 55 % compared to the same period a year earlier.
The increase in quarterly activity is accompanied by a very sharp increase in operating expenses: these have more than doubled in the space of a year, rising from $402 million to $925 million.
Consequently, Take-Two recorded a quarterly net loss of $610 million, far from the net profit of $111 million recorded in the 4th quarter of fiscal year 2022. Quarterly EPS thus came to -3.62$ against +0.95 $ a year earlier.
Over the whole of the 2023 financial year, Take-Two recorded a sharp increase in its turnover, to $5,350 million (+52%) while operating expenses exploded and rose from $1,495 to $3,450 million. Take-Two thus recorded a net loss of $1,124 million over the year, far from the gain of $418 million made twelve months earlier.
For fiscal year 2024, Take-Two is targeting revenue of between $5.37 billion and $5.47 billion, with an estimated net loss of between $596 million and $648 million.
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