Take-Two Interactive Software, Inc. Reiterates Outlook for Fiscal Year 2022
Take-Two Interactive Software, Inc. (NASDAQ:TTWO) has reiterated its fiscal year 2022 outlook, originally announced on May 18, 2021, and reaffirmed on August 2, 2021. The release of enhanced versions of Grand Theft Auto V and Grand Theft Auto Online for new consoles is now scheduled for March 2022, delayed from the initial November 2021 date to allow for further product refinement. Despite this delay, the company remains confident in its guidance due to strong engagement trends in existing games and anticipated new game releases throughout the fiscal year.
- Reaffirmed fiscal year 2022 guidance despite game release delay.
- Strong engagement trends in existing games support positive outlook.
- Continued anticipation of new game releases expected to drive revenue.
- Delay in the release of Grand Theft Auto V and Grand Theft Auto Online could impact short-term revenue.
The Company’s wholly-owned label,
Despite this change, the Company is reaffirming its prior guidance for the fiscal year, driven by continued strong engagement trends in its existing games, as well as the planned release of new games from its pipeline during the balance of its fiscal year.
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Cautionary Note Regarding Forward-Looking Statements
Statements contained herein which are not historical facts are considered forward-looking statements under federal securities laws and may be identified by words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "potential," "predicts," "projects," "seeks," “should,” "will," or words of similar meaning and include, but are not limited to, statements regarding the outlook for the Company's future business and financial performance. Such forward-looking statements are based on the current beliefs of our management as well as assumptions made by and information currently available to them, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may vary materially from these forward-looking statements based on a variety of risks and uncertainties including: the uncertainty of the impact of the COVID-19 pandemic and measures taken in response thereto; the effect that measures taken to mitigate the COVID-19 pandemic have on our operations, including our ability to timely deliver our titles and other products, and on the operations of our counterparties, including retailers and distributors; the effects of the COVID-19 pandemic on both consumer demand and the discretionary spending patterns of our customers as the situation with the pandemic continues to evolve; the risks of conducting business internationally; the impact of reductions in interest rates by the
Other important factors and information are contained in the Company's most recent Annual Report on Form 10-K, including the risks summarized in the section entitled "Risk Factors," the Company’s most recent Quarterly Report on Form 10-Q, and the Company's other periodic filings with the
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(Investor Relations)
Senior Vice President
Investor Relations & Corporate Communications
(646) 536-3005
nicole.shevins@take2games.com
(
Vice President
(646) 536-2983
Alan.Lewis@take2games.com
Source: Take-Two Interactive
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