Take-Two Interactive Records US$903.3 Million In Revenue For Fiscal Q3 2022
Take-Two Interactive Software, Inc. (Nasdaq: TTWO) reported on Monday its financial results for fiscal Q3 2022, ended December 31, 2021. The firm earned US$903.3 million in quarterly revenue, an increase from Q3 2021’s revenue of US$860.9 million.
Breaking down the topline revenue figure, the United States market contributed US$534.9 million while the remaining US$368.4 million came from international markets. The company said that the largest contributors to its net revenue for the quarter are its game franchises NBA, Grand Theft Auto, and Red Dead.
Gross margin also increased to 61.2% during the quarter compared to last year’s 59.8%. The firm ended with a net income of US$144.5 million, down from US$182.2 million recorded in the previous year. The quarterly income translated to US$1.24 earnings per diluted share.
The company also ended the quarter with US$986.7 million in cash and cash equivalents, putting the balance of the current assets at US$3.71 billion. Meanwhile, current liabilities ended at US$2.07 billion.
The firm also shared its fiscal 2022 outlook, projecting annual revenue of US$3.41 – US$3.46 billion. This includes a Q4 2022 revenue guidance of US$835 – US$885 million. For the nine months so far, the company has earned US$2.57 billion.
Earlier in January 2022, the New York-based video game company announced its planned merger with Zynga (Nasdaq: ZNGA) in a US$12.7 billion deal.
Take-Two Interactive last traded at US$175.10 on the Nasdaq.
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