Below you can check out a summary of the results, which Take-Two defines as “strong,” with both revenue and net income above expectations.
We also take a look at the guidance for the current fiscal year, which Take-Two expects to bring higher revenue but lower profit.
As usual, Take-Two CEO Strauss Strauss Zelnick provided a comment to go with the press release.
“Our strong fourth quarter results concluded another highly successful year for our Company, during which we delivered Net Bookings of $3.4 billion.
In addition to our outstanding financial results, I am pleased that we took pivotal steps to position our organization for the long term by investing in talent, broadening our portfolio further, and agreeing upon our transformational pending combination with Zynga, which has the potential to exponentially increase our Net Bookings from mobile, while also enabling us to deliver substantial cost synergies and revenue opportunities.”
“For fiscal 2023, we expect to deliver a new record of $3.75 to $3.85 billion in Net Bookings on a standalone basis. As we execute on our organic growth initiatives, while unlocking new opportunities presented by our pending transaction with Zynga, we believe that we can broaden our portfolio
and capitalize further on new platforms, business models, emerging markets, and distribution channels. As we deliver on these growth drivers, we believe that Take-Two remains incredibly well-positioned to increase its scale and prominence in the industry, expand its margins, and deliver long-term value for our shareholders.”
Interestingly, the company also provided an update to its pipeline of games in development and planned for a release by March 2025, not including Zynga.
Among these, there are 24 “immersive core” games, 10 indie games, 20 mobile games (including the mobile version of Grand Theft Auto: The Trilogy -The Definitive Edition slated to come by March 2023), 7 “mid core” games, and 8 new iterations of previously released games.
If you wonder what these definitions mean, immersive core games are defined as follows:
“Immersive Core: Titles that have the deepest gameplay and the most hours of content. Examples include our key sports franchises (like PGA 2K and NBA 2K) as well as Grand Theft Auto and Red Dead Redemption (to name a few).”
Mid core games are defined as follows.
“Mid-core: Titles that are either an arcade title (like WWE Battlegrounds) or games that have many hours of gameplay, but not to the same extent as an immersive core title.”
New Iterations of previously released titles are ports and remasters. Sequels are not included in this category.
If you’d like to compare with historical data, you can check out the results for the previous quarter, which were published in February.