Take-Two Interactive generated $1.299 billion in the second quarter of the 2023-2024 fiscal year, according to the company’s latest quarterly report. Mobile proved to be the most successful platform for the company, with $646.2 million, representing 50% of the total.
Despite this success, the company’s revenue declined 6% from $1.393 billion in the same period of the 2022-2023 fiscal year. Mobile saw a sharper decline of 11.5% from $730.1 million, 52% of the total for the period.
The company saw similar results in terms of net bookings, falling from $1.504 billion in the second quarter of the 2022-2023 fiscal year to $1.444 billion in the most recent quarter, with mobile seeing a year-on-year decline of 7.1% from $712.9 million to $661.9%.
Mobile dominance
The success of mobile is echoed in the company’s financial results over the last six months. The company generated $2.583 billion over the period, with mobile representing $1.326 billion – 51% of the total. Mobile also represented 51% of net bookings over the same period, with $1.351 billion of the $2.646 billion total.
Interestingly, while mobile saw year-on-year declines in the last quarter, the last six months tell a different story. Mobile saw a 20% increase in revenue from $1.099 billion in the first six months of the 2022-2023 fiscal year to the last six months, while net bookings increased 24% in the same period, standing at $1.082 billion in the first six months of 2022-2023.
The company’s mobile subsidiary Zynga proved to be a particular success.
“We continue to benefit from Zynga’s ability to create engaging new games, which is a distinguishing capability of our mobile business,” said CEO Strauss Zelnick, in a conference call. “For example, Rollic successfully launched Power Slap, based on the world’s first regulated and sanctioned slap fighting promotion. The title is highly entertaining, and to date, has experienced more than 1 billion slaps across training and matches. With the launch of this new mobile game, Rollic has now had 22 titles reach the #1 or #2 spot in the U.S. Apple App Store.
“We’d like to thank the entire team over at TKO, including Ari Emanuel and Dana White, for their strong partnership, as well as our colleagues at Rollic, who created this title from inception to release in just 8 weeks.”
Despite this success overall, Take-Two is projecting a 5% fall in recurring consumer spending growth (RCS), led by a modest decline in its mobile business.
We listed Take-Two Interactive as one of the top 50 mobile game makers of 2023.
