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Take-Two Reports Record Quarterly Bookings of $1.2B, Up 20%

Take-Two Reports Record Quarterly Bookings of $1.2B, Up 20%

Take-Two Interactive, ‍one ⁣of the world’s largest​ video game publishers, ⁣announced record​ quarterly⁤ bookings​ for its ‍fiscal third‌ quarter on Thursday.⁣ The company reported $1.2 billion​ in ⁢bookings, a 20% year-over-year increase. Net revenue also increased, up 16% from the prior ⁤year.

The strong ⁣performance was‌ led by Take-Two’s digitally-delivered content,⁢ including recurrent consumer‌ spending such as Grand Theft ⁢Auto Online. Digital ⁣accounted for approximately 75%⁢ of total net revenue in ⁢the quarter. Relatively strong ⁣performances from Grand Theft Auto V, NBA 2K20, Borderlands 3, and ⁣Red Dead Redemption 2 also contributed to the⁣ company’s solid quarter.

Take-Two CEO Strauss Zelnick credited the ‍company’s strong performance ⁢to ​”broad-based growth across platforms and geographies, led by our ‌core⁢ franchises and⁢ driven ‍by our ongoing investments to deliver the highest quality‌ experiences.”

Zelnick also‌ said‌ that Take-Two was able to leverage its ⁢”ability ⁤to maximize the ‍potential of our new releases and expand robust engagement of our recurrent consumer spending offerings.”‌

The⁣ company’s strong financial ⁢performance in the quarter surpassed analyst⁢ expectations, with⁤ shares ‍of the company increasing by ‌2.8% in after-market trading.

Going forward, Take-Two is optimistic as they look ahead to their fiscal ‍year⁤ 2021. On the company’s Q3 earnings call, ⁣Zelnick stated that they expect to “deliver revenue and net bookings growth in fiscal 2021, while also ‌continuing to ⁤deliver non-GAAP earnings per share growth.”


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