Published , by Donovan Erskine
Published , by Donovan Erskine
Take-Two Interactive (TTWO) is easily one of the biggest companies in the gaming industry, with franchises like NBA 2K, Grand Theft Auto, Borderlands under its belt, just to name a few. As we move into a new fiscal year, Take-Two Interactive (TTWO) has revealed its earnings report for the fiscal year 2021. Despite seeing a good deal of success over the period, Take-Two is projecting a down year for 2022.
Take-Two Interactive (TTWO) shared its earning report for the fiscal year 2021 with an extensive post to its official website. The company had a pretty solid 2021, reporting a growth in revenue and recurrent spending. Several games are cited as top earners for the financial year, including Red Dead Redemption 2, GTA Online, and Sid Meyer’s Civilization 6. In addition to reporting on its 2021 earnings, Take-two also shared its projections for the company’s upcoming business. Despite coming off of a successful period, Take-Two’s guidance for 2022 projects a down year.
Specifically, Take-Two is projecting that it will make less money per share in 2022, going from $5.09 to $1.95-2.20. There are several reasons as to why the company is projecting a down year for the upcoming fiscal year. Mainly, this is likely an indicator that Take-Two isn’t planning on any major releases this year. Though NBA 2K22 is a given, don’t hold your breath for Grand Theft Auto 6 any time soon. If the company’s guidance was trending in the other direction, it would be cause to expect a new game in the can.
Take-Two Interactive (TTWO)’s earnings report for the fiscal year 2021 shows some solid growth for the company. However, it’s guidance for the fiscal year 2022 doesn’t instill confidence, and would seem to indicate no major game releases planned for the near future. For more on the financial side of the gaming industry, stick with us here on Shacknews.