Take-Two Interactive reports strong Q3 FY2025 Results, prepares for blockbuster 2025 lineup

Take-Two Interactive announced its financial results for the third quarter of fiscal year 2025, reporting net bookings of $1.37 billion, a 3% increase from the previous year and within the company’s projected guidance. The company also reaffirmed its full-year net bookings outlook of $5.55 billion to $5.65 billion, citing strong performance from its core franchises and an upcoming release schedule set to drive significant growth.

The numbers

For the three months ending December 31, 2024:

• GAAP Net revenue: $1.36 billion, slightly down from $1.37 billion last year
• GAAP Net loss: $125.2 million, increased from $91.6 million last year
• Total net bookings: $1.37 billion, a 3% year-over-year increase

The highlights

• Between October 1, 2024 and December 31, 2024 Take-Two Interactive released NBA 2K25 Arcade Edition on Apple Arcade, a PC version of Red Dead Redemption and Undead Nightmare, and Grand Theft Auto Online: Agents of Sabotage across PC, PS5, PS4, Xbox Series X and S and Xbox One
• Recurrent consumer spending was up 9%, making up 79% of total Net Bookings
• The biggest hitters in Netbookings were NBA 2K25, GTA Online, GTA 5, Red Dead Redemption 2, Red Dead Online and the mobile titles Toon Blast, Match Factory, Words With Friends and Toy Blast
• In February the company will release Sid Meier’s Civilization 7 and PGA TOUR 2K25, with WWE 2K25 slated for March
• Mafia: The Old Country will have a summer 2025 release date, and GTA 6 is still on track for its fall 2025 window.
• Borderlands 4 is planned for release sometime in 2025.
• Ghost Story Games’ Judas, 2K’s Project ETHOS and Zynga’s racing title CSR 3 remain part of a currently undated line up.

“We achieved solid results during the holiday season. Our Net Bookings of $1.37 billion were within our guidance range, as significant outperformance in NBA 2K helped to offset moderation experienced in several of our mobile franchises. At the same time, our operating results surpassed expectations, led by the upside from NBA 2K, as well as a shift in timing of expenses that benefited the quarter,” said Strauss Zelnick, Chairman and CEO of Take-Two Interactive.

“For Fiscal 2025, we are reiterating our Net Bookings guidance range of $5.55 to $5.65 billion and our outlook for operating performance. Our projections for the fourth quarter balance strength in NBA 2K with a continuation of the current mobile trends, and the shift of some operating expenses into the period.”

“Looking ahead, this calendar year is shaping up to be one of the strongest ever for Take-Two, as we plan to launch Sid Meier’s Civilization VII on February 11th, Mafia: The Old Country in the Summer, Grand Theft Auto 6 in the Fall, and Borderlands 4. We continue to invest prudently in our development pipeline and remain confident in Zynga’s potential to create new mobile forever franchises as demonstrated by their ongoing success with Match Factory. As we continue to deliver hits, we remain highly confident that we will achieve sequential increases in, and record levels of, Net Bookings in Fiscal 2026 and 2027.