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Take-Two Interactive (TTWO) Q2 2024 earnings results miss EPS expectations

Take-Two Interactive is being cagey with its numbers, but it almost doesn't matter with Wednesday's Grand Theft Auto 6 announcement.

Ozzie Mejia

November 8, 2023 1:48 PM

Take-Two Interactive

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Take-Two Interactive (TTWO) has issued its earnings report for Q2 2024. The company is being cagey with many of its numbers, but has reported in with $1.3 billion USD in revenue. Still, this number is less than the $1.4 billion estimated by Wall Street.

"Our strong second quarter results, including Net Bookings of $1.4 billion, underscore the strength of our portfolio of iconic, industry-leading intellectual properties," Chairman and CEO Strauss Zelnick said in the Take-Two Q2 2024 earnings report. "During the period, our teams released new offerings, delivered engaging post-launch content, and advanced further the development of our eagerly-anticipated pipeline. 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."

Take-Two reported a $1.44 billion total net bookings number, which is a four percent decrease. The company also reported a GAAP net loss of $543.6 million or $3.20/share, which is up from the $257.0 million or $1.54/share number year-over-year. However, the GAAP results factor in "impairment charges of $219.7 million related to intangible assets and $165.4 million, related to goodwill, representing a partial impairment of one of our reporting units."

Of course, Take-Two's latest fiscal quarter numbers are almost irrelevant to the latest stock price. In the wake of the recent Grand Theft Auto 6 news, Take-Two stock rose $7.11/per share to end the trading day on Wednesday, November 8. That number has continued to rise in after-hours trading, showing an increase of $6.53/share as of the time of this writing.

We're making sure to monitor everything coming out of Take-Two Interactive and its various subsidiaries. Be sure to check out the TTWO Q2 2024 earnings call. We'll continue to offer any updates as they come in.

Ozzie Mejia

Senior Editor

Ozzie has been playing video games since picking up his first NES controller at age 5. He has been into games ever since, only briefly stepping away during his college years. But he was pulled back in after spending years in QA circles for both THQ and Activision, mostly spending time helping to push forward the Guitar Hero series at its peak. Ozzie has become a big fan of platformers, puzzle games, shooters, and RPGs, just to name a few genres, but he’s also a huge sucker for anything with a good, compelling narrative behind it. Because what are video games if you can't enjoy a good story with a fresh Cherry Coke?