Take-Two Interactive reported $1.22 billion in net bookings for the quarter ended June 30, 2024, up 1% from $1.20 billion a year earlier. The “flat” figure referred to recurrent consumer spending, which made up 83% of bookings—not to total bookings. The company announced the results on August 8, 2024.
What Take-Two reported for its June 2024 quarter
The results were for Take-Two’s fiscal first quarter of 2025, covering the three months ended June 30, 2024. The company’s release described $1.22 billion in net bookings as in line with guidance.
| Measure | Fiscal Q1 2025 result | Comparison or context |
|---|---|---|
| Net bookings | $1.22 billion | Up 1% from $1.20 billion in the prior-year quarter |
| Recurrent consumer spending | Flat year over year | 83% of total net bookings |
| GAAP net revenue | $1.34 billion | Up 4% from $1.28 billion in the prior-year quarter |
| GAAP net loss | $262.0 million, or $1.52 per share | Compared with a $206.0 million loss, or $1.22 per share, a year earlier |
| Fiscal 2025 net bookings outlook | $5.55 billion to $5.65 billion | Company forecast issued with the August 8, 2024 results |
These are different measures, not alternate labels for the same revenue. Net bookings is Take-Two’s measure of products and services sold during the period; GAAP net revenue is reported under accounting rules. Recurrent consumer spending tracks ongoing engagement-related spending and is one component of bookings.
Why recurrent consumer spending was flat
Take-Two said recurrent consumer spending was flat year over year and represented 83% of net bookings. The release does not give a title-by-title breakdown of the metric or explain a specific cause for the flat result, so it does not establish which games or spending categories offset one another.
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The company named these among the largest contributors to fiscal Q1 2025 net bookings: NBA 2K24; Grand Theft Auto Online and Grand Theft Auto V; Toon Blast; its hyper-casual mobile portfolio; Empires & Puzzles; Match Factory!; Red Dead Redemption 2 and Red Dead Online; Words With Friends; and Merge Dragons! Take-Two did not disclose dollar bookings or growth rates for these individual titles in the release. A list of leading contributors therefore should not be read as a ranking or as evidence that any one title grew or declined.
How Take-Two defines its metrics
Net bookings
Take-Two defines net bookings as the net amount of products and services sold digitally or physically during the period. Its definition includes licensing fees, merchandise, in-game advertising, strategy guides, and publisher incentives.
Recurrent consumer spending
Recurrent consumer spending covers ongoing player-engagement spending, including virtual currency, add-on content, in-game purchases, and in-game advertising. It is not interchangeable with total net bookings or GAAP net revenue.
GAAP net revenue and net loss
GAAP net revenue was $1.34 billion, up 4% year over year, while the company reported a $262.0 million GAAP net loss. The higher revenue figure alongside the larger net loss shows why bookings growth alone does not establish profitability.
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What the company said—and what its outlook meant
Chairman and CEO Strauss Zelnick said: “We achieved solid first quarter results by engaging our players with exciting new game releases and content updates, while also maintaining our focus on efficiency.”
Take-Two forecast fiscal 2025 net bookings of $5.55 billion to $5.65 billion in its August 8, 2024 release. That range was a dated company outlook, not a reported result for the full fiscal year.
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How the results compare with later June quarters
The June 2024 quarter is historical, not Take-Two’s latest June-quarter performance. The company reported $1.42 billion in net bookings, up 17% year over year, for the fiscal first quarter ended June 30, 2025. For the fiscal first quarter ended June 30, 2026, it reported $1.39 billion, down 3% year over year, and reiterated fiscal 2027 net bookings guidance of $8.0 billion to $8.2 billion.
Those later figures provide context, but they do not change what the August 2024 release said: total bookings rose modestly, while recurrent consumer spending was flat.
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Sources
- Take-Two Interactive, fiscal first-quarter 2025 results, August 8, 2024.
- Take-Two Interactive, fiscal first-quarter 2026 results.
- Take-Two Interactive, fiscal first-quarter 2027 results.
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