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Take-Two Interactive Releases Quarterly Earnings Report

Take-Two Interactive released its Q3 quarterly earnings report for the company’s fiscal year ending on March 31st, 2022. In this report, the organization revealed that it would be raising its outlook for the current fiscal year.

During Q3 2021, Take-Two Interactive generated $903.3 million in revenue, representing a 5% increase from the same period last year. Digital revenues reached $795.7 million thanks to the success of franchises like NBA 2K, Red Dead Redemption, and Grand Theft Auto.

“We have the strongest and most diverse pipeline in our company’s history, comprised of new intellectual properties, as well as sequels to many of our beloved franchises,” said Take-Two’s CEO, Strauss Zelnick, during an earnings call. “We look forward to delivering many of these titles in the coming months and beyond. We’re also confident that we can emerge as an even stronger player within our industry and deliver long-term value for our shareholders following the anticipated closing of our transaction with Zynga. With greater scale, extensive synergies, and a more diversified portfolio of industry-leading titles, we believe that together, our two companies will far exceed our individual goals.”

Following a strong third-quarter, Take-Two said that full-year revenues will range from $3.41 billion to $3.46 billion. This is up from the company’s previously set target of $3.35 billion to $3.45 billion.

(All information was provided by Front Office Sports and The Motley Fool)

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