Since closing Zynga deal in 2022, Take-Two Interactive hasn’t seen profits for nine straight quarters
Multiple rounds of layoffs were preceded by a decade of constant workforce expansion ahead of “GTA 6”Between its leading live service, high revenues, heavy M&A activity and many layoff rounds, “Grand Theft Auto” parent Take-Two Interactive provides one of the best gaming biz gut checks every earnings season.
This trend has persisted despite Zynga’s addition to the Rockstar and 2K labels proving an immediate boost for revenue, as Take-Two has raked in more than $1 billion in quarterly net bookings for two years., Q2 2024’s $1.
It’s no wonder the gaming giant has made as many as three rounds of layoffs within the span of a year, with itsin July, and Take-Two chief Zelnick has indicated the company is not anticipating further layoffs ahead of “GTA 6” releasing next fall.of $5.65 billion by the end of next March, slightly up from the $5.33 billion brought in throughout FY24. This is due in part to the completion ofFriday isn’t representative of any big Hollywood push on Take-Two's part.
As much as that game is likely to reverse the company’s ongoing losses, Take-Two remains a striking example of how the biggest gaming companies can suffer under the weight of necessary expansion to improve upon their products.
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: DailyFX - 🏆 305. / 63 Read more »
Source: CNBC - 🏆 12. / 72 Read more »