Take-Two Interactive Software, Inc. reported its fiscal fourth-quarter and full-year 2025 results on May 15, 2025, for the period ended March 31, 2025. The company achieved fourth-quarter net bookings of $1.58 billion and full-year net bookings of $5.65 billion, both at the top of their respective guidance ranges.
However, the company's operating expenses increased by 44% to $4.6 billion in Q4, primarily due to a significant $3.6 billion impairment expense related to goodwill and acquired intangible assets. This non-cash accounting adjustment contributed to a widened net loss for the quarter.
Take-Two provided an initial financial outlook for fiscal year 2026, projecting net bookings of $5.9 billion to $6.0 billion, which fell below revised Wall Street expectations. This outlook reflects the delay of 'Grand Theft Auto VI' to May 26, 2026 (fiscal year 2027), shifting anticipated revenue to a later period. The company's pipeline for FY26 includes 'Mafia: The Old Country' and 'Borderlands 4'.
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