Take-Two: heavy quarterly loss on charges

(CercleFinance.com) - On Thursday evening, Take-Two Interactive reported a net loss of $2.
9 billion for the last three months of its 2023-24 fiscal year, or $17.02 per share, compared with a loss of $610 million a year earlier.

The video game publisher (Red Dead, GTA) explained that it had been hit by heavy impairment charges on goodwill and intangible assets related to acquisitions, as well as business reorganization expenses linked to its cost reduction program.

Revenues and bookings fell by 3% to $1.4 billion and $1.35 billion respectively, but were above target levels, with several key franchises such as NBA 2K24 outperforming the market.

With full-year EPS of -$22.01 and bookings up 1% to $5.33 billion, Take-Two anticipates respective target ranges of -3.90 to -3.50 dollars and 5.55 to 5.65 billion.

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