Take-Two Interactive has released its financial report for the third quarter ended December 31, 2024. The company is a bit stalled in terms of some key business metrics, gearing up for the launch of several major games.
Sid Meier’s Civilization VII
Financial highlights
- According to its Q3 presentation, Take-Two reached $1.36 billion in net revenue, down 1% compared to the same period last year. Digital sales accounted for 96% of the total.
- Mobile remained the main platform by revenue, accounting for 54% of the total. It is followed by console (37%) and PC (9%).
- Net bookings grew 3% year-over-year to $1.37 billion, within the guidance range of $1.35-1.4 billion. The main drivers were NBA 2K25, GTA Online, and GTA V, as well as Zynga’s mobile titles such as Toon Blast and Match Factory.
- Bookings from recurrent consumer spending (in-app purchases, DLC, in-game ads, etc.) rose 9% and accounted for 79% of the total.
- Net loss amounted to $125 million, compared to $91.6 million in the same period last year.
- Take-Two still expects to reach $5.5-5.6 billion in net revenue for the full year ending March 31, 2025. However, the company revised its net loss outlook, lowering it from $775-839 million to $729-788 million.
Game sales and other data
- Recurring spending in NBA 2K grew 30% (“greatly surpassed our expectations”), with a 6% increase in mobile and expected decline in GTA Online.
- NBA 2K saw a 20% increase in DAU, with its MAU up 10%. The latest installment in the series, NBA 2K25, has sold over 7 million copies since its launch in September 2024.
- The number of GTA+ subscribers rose 10% year-over-year.
- According to Take-Two president Karl Slatoff, Civilization VII set a “new franchise record for pre-orders, and player sentiment is extremely positive.” However, the game launched in Advanced Access with a “Mostly Negative” rating on Steam, which later rose to “Mixed” (47% of the 5,423 reviews are positive).
Take-Two's best-selling franchises
- GTA — 440 million units sold (GTA V — 210 million, +5M from the previous quarter);
- Red Dead Redemption — 95 million units sold (RDR 2 — 70 million, +3M from the previous quarter);
- NBA 2K — over 155 million units sold, +5M from the previous quarter (NBA 2K25 — 7 million);
- BioShock — over 43 million units sold (unchanged);
- Borderlands — 91 million units sold, +2M from the previous quarter (Borderlands 2 — 30 million, Borderlands 3 — 22 million);
- Sid Meier’s Civilization — 73 million units sold (unchanged);
- Take-Two plans to launch 22 “immersive core” releases (large AAA games like GTA and its sports franchises) by the end of FY27 (March 31, 2027).
- The company’s pipeline for calendar 2025 (January-December) looks promising: Mafia: The Old Country is expected to launch in the summer, GTA VI is scheduled for the fall, while Borderlands 4 will come out before the end of this year (no exact release window). Not to mention its annual franchises like PGA Tour, WWE 2K, and NBA 2K.
- “We are exceedingly optimistic about the commercial potential of our titles and believe that they will have a transformative effect on our business — and our industry — over the long term,” Take-Two CEO Strauss Zelnick said in a statement.
