WASHINGTON (dpa-AFX) - Video games developer Take-Two Interactive Software, Inc. (TTWO), on Monday reported a narrower loss for the second quarter.
Moving ahead, the company reiterated its full-year bookings outlook, with the highly anticipated launch of Grand Theft Auto VI scheduled for November 19.
For the second quarter, net loss narrowed to $54 million, or $0.29 per share, from $133.9 million, or $0.73 per share, a year earlier. Net revenue declined to $1.50 billion from $1.77 billion.
Net bookings, a key operational measure, fell 18% to $1.60 billion. Recurrent consumer spending decreased 9% but accounted for 81% of total bookings. The largest contributors included the NBA 2K and Grand Theft Auto franchises, along with Toon Blast, Match Factory and Borderlands.
For fiscal 2027, Take-Two continues to expect net bookings of $8 billion to $8.2 billion, revenue of $7.98 billion to $8.18 billion and net income of $109 million to $142 million, or $0.57 to $0.75 per share.
For the fiscal third quarter, the company projects net bookings of $3.35 billion to $3.5 billion and net income of $250 million to $276 million, or $1.30 to $1.44 per share.
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