Take-Two said net revenue for the 3 months ended September 30, 2024 increased by $53.9 from the prior year period. The company said the increase was partly offset by decreases in Grand Theft Auto $27.4 and NBA 2K $21.8, while increases from Match Factory! $73.6 and Toon Blast $35.6 were the main drivers.

10-QQuarterly reportFiled Nov 7, 2024Period of report Sep 30, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

Take-Two said net revenue for the 3 months ended September 30, 2024 increased by $53.9 from the prior year period. The company said the increase was partly offset by decreases in Grand Theft Auto $27.4 and NBA 2K $21.8, while increases from Match Factory! $73.6 and Toon Blast $35.6 were the main drivers.
The company said its net loss for the 3 months ended September 30, 2024 was $365.5 (compared with $543.6 in the prior year period), and its basic and diluted loss per share was $2.08 (compared with $3.20 in the prior year period). It said its income tax provision for the quarter was $41.2, and its effective tax rate was (12.7)%.
Gross profit as a percentage of net revenue for the 3 months was 53.8%, compared with 32.0% in the prior year period, the company said. It cited lower amortization of intangible assets following prior-year impairment charges on acquisition-related intangibles, and lower internal royalties, as factors. It said higher digital platform fees partly offset these factors.
Take-Two said it had cash and cash equivalents and restricted cash of $1,319.6 as of September 30, 2024 ($1,102.0 as of March 31, 2024). It said it had no borrowings under its 2022 Credit Agreement, and that approximately $747.7 was available for additional borrowing.

Key figures

Quarter ended September 30, 2024

Revenue: $1.4B
Operating income: −$297M
Net income: −$365M
EPS: −$2.08
Gross profit: $728M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Quarterly net revenue up $53.9

Take-Two said net revenue for the 3 months ended September 30, 2024 increased by $53.9 from the prior year period. The company said the increase was partly offset by decreases in Grand Theft Auto $27.4 and NBA 2K $21.8, while increases from Match Factory! $73.6 and Toon Blast $35.6 were the main drivers.

Source · Based on the MD&A text of the filing

Quarterly net loss of $365.5 and loss per share of $2.08

The company said its net loss for the 3 months ended September 30, 2024 was $365.5 (compared with $543.6 in the prior year period), and its basic and diluted loss per share was $2.08 (compared with $3.20 in the prior year period). It said its income tax provision for the quarter was $41.2, and its effective tax rate was (12.7)%.

Source · Based on the MD&A text of the filing

Quarterly gross margin at 53.8%

Gross profit as a percentage of net revenue for the 3 months was 53.8%, compared with 32.0% in the prior year period, the company said. It cited lower amortization of intangible assets following prior-year impairment charges on acquisition-related intangibles, and lower internal royalties, as factors. It said higher digital platform fees partly offset these factors.

Source · Based on the MD&A text of the filing

Liquidity and borrowing capacity

Take-Two said it had cash and cash equivalents and restricted cash of $1,319.6 as of September 30, 2024 ($1,102.0 as of March 31, 2024). It said it had no borrowings under its 2022 Credit Agreement, and that approximately $747.7 was available for additional borrowing.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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