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Take-Two Interactive Software Inc. (TTWO), headquartered in New York City, is a leading developer, marketer, and publisher of interactive entertainment for consumers globally. Founded in 1993, the company operates through its three wholly-owned labels: Rockstar Games, 2K, and Zynga.
Take-Two is renowned for its high-quality gaming franchises. Rockstar Games is best known for the Grand Theft Auto series, which has achieved unprecedented sales milestones, including reaching $1 billion in sales faster than any other entertainment release in history. 2K produces popular titles such as NBA 2K, Civilization, Borderlands, Bioshock, and XCOM. Zynga, a leader in the mobile gaming sector, offers widely-played titles like Farmville, Empires & Puzzles, and CSR Racing.
The company's innovative products are available across console systems, handheld gaming systems, and personal computers, including smartphones and tablets. These products are delivered through various channels including physical retail, digital downloads, online platforms, and cloud streaming services.
Take-Two's financial performance has been robust, characterized by record-breaking revenue, earnings, and cash flow. The company has set new standards within the entertainment industry, particularly during fiscal 2014, when digitally-delivered revenue reached its highest levels. Notable achievements include the success of Grand Theft Auto V, NBA 2K14, and Borderlands 2.
Take-Two continues to expand its portfolio and enhance its global footprint through strategic partnerships and acquisitions. The firm’s commitment to delivering immersive and innovative entertainment experiences keeps it at the forefront of the interactive entertainment industry.
2K has announced the upcoming release of WWE 2K23, set to launch on March 14, 2023, for multiple platforms including PS5, PS4, Xbox, and PC. The game features music star Bad Bunny, enhanced gameplay, and new modes such as WarGames. John Cena, celebrating his WWE 20th anniversary, graces the cover. Players can expect a deep roster of Superstars, including Roman Reigns and Brock Lesnar, alongside innovative features like the 2K Showcase and expanded MyGM and MyFACTION modes. Pre-order bonuses include exclusive content like the Bad Bunny Bonus Pack.
Take-Two Interactive Software, Inc. (NASDAQ: TTWO) plans to report its third-quarter fiscal results for 2023 on February 6, 2023, after market close. A conference call is scheduled for 4:30 p.m. ET to discuss these results, accessible via phone or a live webcast. The company is a leading interactive entertainment developer and publisher, with products for consoles, PC, and mobile platforms, operating under renowned labels like Rockstar Games and Zynga.
The Minnesota Timberwolves have partnered with Wisdom Gaming to establish a new facility for their official esports team, T-Wolves Gaming, at Wisdom Gaming Studios in Mall of America, starting in 2023. This collaboration aims to blend traditional sports with esports, expanding T-Wolves Gaming's audience beyond basketball fans. The new space will feature exclusive Timberwolves merchandise and enhance player and fan interaction. Wisdom Gaming is a notable player in esports, providing comprehensive services for gaming events and community engagement.
Reset Digital has appointed Nate V. Rackiewicz as Chief Data Officer to spearhead data and analytics strategy. Previously, he served as Chief Data Officer for Gannett (NYSE: GCI), where he led data initiatives across all business units. Rackiewicz is known for building analytics capabilities at Take-Two Interactive (NASDAQ: TTWO) and innovating at HBO. His leadership is expected to enhance Reset Digital's unique Neuroprogrammatic advertising platform, addressing the trust deficit in the advertising space while providing inclusive outcomes for diverse audiences.
After Us, an exploration adventure game developed by Piccolo Studio and published by Private Division, is set to launch in Spring 2023 on PC, PlayStation 5, and Xbox Series X|S. Players will embody Gaia, the Spirit of Life, in a post-human world aimed at restoring hope by saving the souls of extinct animals. The game features ten unique biomes and combines impactful storytelling with innovative gameplay mechanics. The MSRP is set at $29.99. This title follows the successful release of Arise: A Simple Story, showcasing advancements in creative game design.
Ghost Story Games, led by Ken Levine, has announced the development of a new single-player narrative first-person shooter titled Judas. Revealed at The Game Awards 2022, Judas will be available on PlayStation®5, Xbox Series X|S, and PC via Steam and Epic Games Store. Players can now add it to their Wishlist. The game's reveal includes a unique storyline involving a disintegrating starship and complex character dynamics. Ghost Story Games, a self-published label under Take-Two Interactive (TTWO), aims to create immersive narrative experiences.
Marvel's Midnight Suns is now available worldwide on PC and next-gen consoles, featuring a tactical RPG experience from Firaxis Games. Players assume the role of The Hunter, leading iconic Marvel heroes against dark forces. The game has received critical acclaim, with top reviews highlighting its engaging story and innovative card-based combat system. It is available in multiple editions, with prices ranging from
Zynga Inc., a wholly-owned publishing label of Take-Two Interactive (NASDAQ: TTWO), announced the acquisition of German mobile game developer Popcore by its subsidiary Rollic. The financial terms of the deal were not disclosed. Popcore is recognized for its popular games like Parking Jam 3D and Pull the Pin!, both ranked among the top downloaded games in the U.S. Apple App Store. This acquisition aims to enhance Rollic's position in the hyper-casual gaming market, leveraging Popcore’s innovative development techniques to create engaging gaming experiences.
Take-Two Interactive Software reported a remarkable 62% increase in GAAP net revenue for Q2 FY2023, reaching $1.4 billion. However, the company posted a GAAP net loss of $257 million, translating to a loss per share of $1.54. Net bookings rose 53% to $1.5 billion, driven largely by recurrent consumer spending, which surged 76%. Looking ahead, Take-Two has adjusted its fiscal 2023 outlook, expecting net bookings between $5.4 billion to $5.5 billion due to pipeline shifts and macroeconomic concerns. Despite challenges, the company remains optimistic about long-term growth in the mobile sector.
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