Net revenue up 5% at Take-Two

Net revenue up 5% at Take-Two

Grand Theft Auto giant Take-Two has reported a new revenue increase of five per cent year-on-year.

The firm brought in $903.3 million in GAAP revenue for the three months ending December 31st, up from last year's $860.9 million. 61 per cent of that figure came from recurrent consumer spending. $795.7 million of Take-Two's GAAP net revenue came from digital products, a seven per cent increase year-on-year.

“Our third quarter performance was outstanding, highlighted by Net Bookings of $866 million, which exceeded our expectations and increased 6% over last year,” Take-Two CEO and chair Strauss Zelnick said.

“Fiscal 2022 is shaping up to be another strong year for Take-Two, and we are once again raising our Net Bookings guidance for the year to $3.37 billion to $3.42 billion.

“We remain highly optimistic about the future of the interactive entertainment industry and our multi-year growth trajectory. From investing in talent to acquiring some of the industry's leading creative studios and announcing our transformational agreement to combine with Zynga, we are taking exciting steps to diversify our business, gain market share and enhance our positioning as one of the world's top three pure-play publishers of interactive entertainment. Together with our incredible pipeline of new intellectual properties and eagerly anticipated sequels, we are confident that we are positioning our business for long-term success and shareholder value creation.”

PCGamesInsider Contributing Editor

Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for, VGC, Games London, The Observer/Guardian and Esquire UK.