Latest news with #TakeTwoInteractive
Yahoo
2 days ago
- Business
- Yahoo
Take-Two lifts annual bookings forecast on 'Mafia', 'Borderlands' launches
By Zaheer Kachwala (Reuters) -Take-Two Interactive raised its annual bookings forecast on Thursday, betting on strong demand for its new "Mafia" and "Borderlands" titles, sending its shares up 5% in extended trading. The firm stuck to the May 26 launch date for its highly awaited "Grand Theft Auto VI," which is expected to generate billions of dollars within weeks of its release. Take-Two is banking on "Mafia: The Old Country", "Borderlands 4" and its core sports titles to drive growth in the absence of "Grand Theft Auto VI" against the backdrop of industry-wide struggles with challenging economic conditions. The company's executives said on a post-earnings conference that the U.S.'s tariff policy has created some risk and will lead consumers to become more careful and selective with spending. Tariffs have also led to a hike in console and hardware prices as manufacturers grapple with higher raw material costs. The company projected bookings of between $6.05 billion and $6.15 billion for its fiscal year 2026, compared with its prior forecast of between $5.9 billion and $6 billion. The delay of "Grand Theft Auto VI" to the next fiscal year has put more pressure on Take-Two's annual sports launches and AAA games. Competition within the industry is also intense, with the launch of premium titles such as Sony's "Ghost of Yotei" and Electronic Arts "Battlefield 6" later this year set to ratchet up the battle for gamer dollars. The period from September to December is a lucrative period for the gaming industry as seasonal sales and new product launches typically drive strong sales for publishers. Take-Two reported first-quarter bookings of $1.42 billion, beating estimates of $1.31 billion, according to data compiled by LSEG. This was due to the strong performance of its mobile portfolio, executives said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Take-Two soars after forecast signals mobile gaming rebound
By Zaheer Kachwala (Reuters) -Take-Two Interactive Software shares rose 5.6% on Friday as the Zynga owner's strong forecast signaled a rebound in the mobile gaming industry following a years-long post-pandemic slump. Once seen as the video-gaming industry's next big growth driver, the mobile market sputtered over the past few years as people spent more time outdoors after lockdowns and high inflation deterred non-essential spending by consumers. That left investors waiting for payoffs from mobile gaming deals such as Take-Two's 2022 buyout of Zynga for $12.7 billion. But Take-Two's raised annual forecast and better-than-expected results for the April-June period offered the clearest sign yet that the U.S. mobile-gaming market was bouncing back. "We've seen so much momentum in a lot of our big titles and some of our titles that have really started to take off since the fourth quarter of last year and into this first quarter," finance chief Lainie Goldstein said. Take-Two, whose fiscal year runs from April to March, makes puzzle-based mobile titles such as "Match Factory," "Color Block Jam" and "Toon Blast." Those games helped it post a nearly 17% jump in bookings - a revenue indicator - in its fiscal first quarter. "Raises after first-quarter beats are generally rare in this industry, particularly with major releases still to come, but the ongoing strength in mobile leaves ample room for a simple passthrough of the upside," TD Cowen analysts said. The mobile-gaming market is also benefiting from the growing integration of live-service features into titles to keep players spending. That helped in-app purchase revenue rise to $81.7 billion last year from $78.6 billion in 2023, Sensor Tower data showed. Take-Two is set to add over $2 billion to its market cap if premarket gains hold. Apart from the mobile business, Take-Two has large premium titles in its pipeline including "Mafia: The Old Country," set to release on Friday, as well as "Borderlands 4" and "Grand Theft Auto VI," all of which are expected to sell millions of copies. "Between Take-Two's current performance, their upcoming releases like Mafia and Borderlands, and, of course, GTA VI, the firm should be optimistic," said Joost van Dreunen, games professor at NYU Stern School of Business.
Reuters
2 days ago
- Business
- Reuters
Take-Two soars after forecast signals mobile gaming rebound
Aug 8 (Reuters) - Take-Two Interactive Software shares rose 5.6% on Friday as the Zynga owner's strong forecast signaled a rebound in the mobile gaming industry following a years-long post-pandemic slump. Once seen as the video-gaming industry's next big growth driver, the mobile market sputtered over the past few years as people spent more time outdoors after lockdowns and high inflation deterred non-essential spending by consumers. That left investors waiting for payoffs from mobile gaming deals such as Take-Two's 2022 buyout of Zynga for $12.7 billion, opens new tab. But Take-Two's raised annual forecast and better-than-expected results for the April-June period offered the clearest sign yet that the U.S. mobile-gaming market was bouncing back. "We've seen so much momentum in a lot of our big titles and some of our titles that have really started to take off since the fourth quarter of last year and into this first quarter," finance chief Lainie Goldstein said. Take-Two, whose fiscal year runs from April to March, makes puzzle-based mobile titles such as "Match Factory," "Color Block Jam" and "Toon Blast." Those games helped it post a nearly 17% jump in bookings - a revenue indicator - in its fiscal first quarter. "Raises after first-quarter beats are generally rare in this industry, particularly with major releases still to come, but the ongoing strength in mobile leaves ample room for a simple passthrough of the upside," TD Cowen analysts said. The mobile-gaming market is also benefiting from the growing integration of live-service features into titles to keep players spending. That helped in-app purchase revenue rise to $81.7 billion last year from $78.6 billion in 2023, Sensor Tower data showed. Take-Two is set to add over $2 billion to its market cap if premarket gains hold. Apart from the mobile business, Take-Two has large premium titles in its pipeline including "Mafia: The Old Country," set to release on Friday, as well as "Borderlands 4" and "Grand Theft Auto VI," all of which are expected to sell millions of copies. "Between Take-Two's current performance, their upcoming releases like Mafia and Borderlands, and, of course, GTA VI, the firm should be optimistic," said Joost van Dreunen, games professor at NYU Stern School of Business.
Reuters
3 days ago
- Business
- Reuters
Take-Two lifts annual bookings forecast on 'Mafia', 'Borderlands' launches
Aug 7 (Reuters) - Take-Two Interactive (TTWO.O), opens new tab raised its annual bookings forecast on Thursday, betting on strong demand for its new "Mafia" and "Borderlands" titles, sending its shares up 5% in extended trading. The firm stuck to the May 26 launch date for its highly awaited "Grand Theft Auto VI," which is expected to generate billions of dollars within weeks of its release. Take-Two is banking on "Mafia: The Old Country", "Borderlands 4" and its core sports titles to drive growth in the absence of "Grand Theft Auto VI" against the backdrop of industry-wide struggles with challenging economic conditions. The company's executives said on a post-earnings conference that the U.S.'s tariff policy has created some risk and will lead consumers to become more careful and selective with spending. Tariffs have also led to a hike in console and hardware prices as manufacturers grapple with higher raw material costs. The company projected bookings of between $6.05 billion and $6.15 billion for its fiscal year 2026, compared with its prior forecast of between $5.9 billion and $6 billion. The delay of "Grand Theft Auto VI" to the next fiscal year has put more pressure on Take-Two's annual sports launches and AAA games. Competition within the industry is also intense, with the launch of premium titles such as Sony's "Ghost of Yotei" and Electronic Arts (EA.O), opens new tab "Battlefield 6" later this year set to ratchet up the battle for gamer dollars. The period from September to December is a lucrative period for the gaming industry as seasonal sales and new product launches typically drive strong sales for publishers. Take-Two reported first-quarter bookings of $1.42 billion, beating estimates of $1.31 billion, according to data compiled by LSEG. This was due to the strong performance of its mobile portfolio, executives said.
Yahoo
3 days ago
- Business
- Yahoo
Take-Two shares rise on strong net bookings, upbeat forecast ahead of new GTA
-- Take-Two Interactive Software Inc (NASDAQ:TTWO) shares climbed 5% in after-hours trading Thursday after the videogame publisher reported robust top-line growth and raised its full-year outlook, offsetting a disappointing bottom line. Enthusiasm around Grand Theft Auto VI and strong contributions from franchises across console and mobile platforms buoyed investor confidence. For the company's fiscal first quarter, Take-Two posted a loss of $0.07 per share, missing analysts' estimates by $0.35. However, revenue of $1.42 billion topped Wall Street consensus of $1.31 billion, driven by strength across its portfolio, including NBA 2K25 and Grand Theft Auto V. Total net bookings, Take-Two's key operating metric, rose 17% year over year to $1.42 billion. Recurrent consumer spending, defined as in-game purchases, add-on content, and advertising, also increased 17%, making up 83% of total net bookings. 'Our outstanding first quarter results reflect ongoing demand for our core franchises and the increasingly diversified, successful nature of our business,' said Chairman and CEO Strauss Zelnick. 'As we approach the release of the most ambitious pipeline in our company's history, we have exceptional confidence in our multi-year outlook and our ability to deliver meaningful shareholder returns.' GAAP net revenue rose to $1.50 billion in the quarter, while recurrent consumer spending comprised 84% of that total. Leading contributors included not only flagship titles such as GTA and NBA 2K but also mobile hits like Toon Blast, Match Factory, and Empires & Puzzles. Guidance was a key highlight for investors: Take-Two raised its full-year net bookings forecast to $6.05–$6.15 billion, ahead of consensus. The company reiterated confidence in FY2026 as it prepares to release titles such as Borderlands 4, NBA 2K26, and Grand Theft Auto VI next May. Despite the earnings miss, investors responded positively to operational momentum and long-term visibility. A well-diversified pipeline and sustained engagement across platforms suggest Take-Two is entering a critical launch phase with strong tailwinds. Related articles Take-Two shares rise on strong net bookings, upbeat forecast ahead of new GTA These Under-the-Radar Stocks Offer Better Risk-Reward Ratio Than Nvidia After soaring 149%, this stock is back in our AI's favor - & already +25% in July
