Take-Two Interactive and 2K Games are facing a class-action lawsuit over the removal of purchased in-game currencies from accounts when a game's online features are taken offline.
Take-Two net losses more than double in Q2
09.11.2023 - 12:19 / pcgamesinsider.biz / Strauss Zelnick
Take-Two saw a net loss of $543.6 million for the three months ending September 30th.
That's according to the company's financials for the quarter, which show that that figure has more than doubled year-on-year, increasing by 111.5 per cent. Net revenue clocked in a $1.3 billion for Q2, a decrease of seven per cent, while Take-Two brought in $1.44 billion in net bookings. That's a decrease of four per cent, but was buoyed by better-than-expected performances from both Grand Theft Auto and Red Dead Redemption.
"Our strong second quarter results, including net nookings of $1.4 billion, underscore the strength of our portfolio of iconic, industry-leading intellectual properties. During the period, our teams released new offerings, delivered engaging post-launch content, and advanced further the development of our eagerly-anticipated pipeline," CEO and president Strauss Zelnick said.
"While we expect continued macroeconomic uncertainty, we believe that we are well positioned for the holiday season and are reiterating our fiscal 2024 Net Bookings guidance of $5.45 to $5.55 billion.
"Looking ahead, I am optimistic about our Company’s multi-year growth trajectory and our ability to deliver long-term value for our shareholders. Our development pipeline is robust and diverse, and we are getting closer to delivering the groundbreaking titles that our audiences throughout the world have been anticipating. With an unwavering commitment to being the most creative, the most innovative, and the most efficient entertainment company, I have great confidence that our offerings will surpass our players’ expectations and set new standards of creative excellence in our industry."
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