Take-Two: makes loss despite strong sales growth
(CercleFinance.com) - The video games group Take-Two has reported revenues of $1,446m for Q4 2023 (i.
e. 1 January to 31 March, 2023), up 55% y-o-y.
However, the increase in quarterly sales was accompanied by a sharp rise in operating expenses, which more than doubled from $402m to $925m in the space of a year.
As a result, Take-Two reported a quarterly net loss of $610m, a far cry from the $111m net profit reported in Q4 FY2022. Quarterly EPS came in at -$3.62 versus +$0.95 a year earlier.
For FY 2023, Take-Two recorded strong sales growth, to $5,350m (+52%), while operating expenses exploded from $1,495m to $3,450m. Take-Two thus recorded a net loss of $1,124m for the year, far from the $418m gain made twelve months ago.
For FY 2024, Take-Two is targeting sales of 5.37 to 5.47 billion dollars, estimating a net loss of 596 to 648 million dollars.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
e. 1 January to 31 March, 2023), up 55% y-o-y.
However, the increase in quarterly sales was accompanied by a sharp rise in operating expenses, which more than doubled from $402m to $925m in the space of a year.
As a result, Take-Two reported a quarterly net loss of $610m, a far cry from the $111m net profit reported in Q4 FY2022. Quarterly EPS came in at -$3.62 versus +$0.95 a year earlier.
For FY 2023, Take-Two recorded strong sales growth, to $5,350m (+52%), while operating expenses exploded from $1,495m to $3,450m. Take-Two thus recorded a net loss of $1,124m for the year, far from the $418m gain made twelve months ago.
For FY 2024, Take-Two is targeting sales of 5.37 to 5.47 billion dollars, estimating a net loss of 596 to 648 million dollars.
Copyright (c) 2023 CercleFinance.com. All rights reserved.