Take-Two Interactive Software Inc released its fiscal first-quarter financial results, revealing a 4% year-over-year increase in revenue to $1.34 billion. Net bookings for the quarter amounted to $1.22 billion, showing a 1% growth compared to the previous year. Despite recording a net loss of $1.52 per share in the first quarter, the company's management, led by Chairman and CEO Strauss Zelnick, expressed confidence in their performance and reiterated an annual Net Bookings outlook of $5.55 to $5.65 billion.
Looking ahead, Take-Two anticipates second-quarter revenue to fall within the range of $1.29 billion to $1.34 billion, with an expected loss of $2.15 to $2.30 per share in the same period. The company also provided guidance for full-year revenue, projecting $5.57 billion to $5.67 billion with an anticipated net loss per share of $3.95 to $4.33 for the year. Additionally, the release of the highly-anticipated Grand Theft Auto VI is scheduled for the fall of 2025, fueling optimism about the future of the company.
Chairman and CEO, Strauss Zelnick, emphasized Take-Two's positive outlook, highlighting the vibrancy of their core franchises, ambitious development pipeline, and ongoing evaluation of growth opportunities to enhance the business model and financial performance. Zelnick also outlined strategic priorities aimed at achieving sequential increases in Net Bookings in Fiscal 2026 and 2027 to drive long-term shareholder value. As a result of the financial report, Take-Two Interactive Software Inc's shares were up 5.35% to $146.21 at the time of publication.