The following is a summary of the Take-Two Interactive Software, Inc. (TTWO) Q4 2024 Earnings Call Transcript:

Financial Performance:

• Take-Two Interactive reported Q4 2024 net bookings of $1.35 billion, exceeding their guidance range and achieved FY 2024 net bookings of $5.33 billion.

• The company expects a 5% YoY growth in net bookings for FY 2025, projected to be between $5.55 and $5.65 billion.

• The operating expenses surged by 69% to $5.8 billion due to an impairment charge of $2.3 billion and a $105 million reorganization charge.

• The company anticipates over $165 million in annual savings from their extensive cost reduction program.

• The GAAP net revenue for FY 2025 is projected to be between $5.57 and $5.67 billion, with operating expenses expected to range from $3.56 billion to $3.58 billion.

Business Progress:

• The company reported strong sales from key titles like NBA 2K24, Red Dead Redemption 2, Zynga's Toon Blast and Match Factory, and the Grand Theft Auto series.

• They have high anticipation for the release of Grand Theft Auto VI in fall 2025 due the series' past performance.

• Consistent player engagement indicated by nearly 2 million daily gamers playing NBA 2K24.

• For FY 25, 26, and 27, the company foresees tremendous growth with sequential increases in net bookings.

• They plan to launch approximately 40 titles through FY 2027 and are exploring geographical growth opportunities in Asia, India and Africa.

• The direct-to-consumer business continues to grow with the company planning to release additional titles each quarter and the mobile division maintaining profitability.

More details: Take-Two Interactive Software IR

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