Summary by Moomoo AI
Take-Two Interactive reported Q1 FY2025 revenue of $1.34 billion, up 4.2% year-over-year, driven by strong performance from Match Factory! and Toon Blast. However, the company recorded a net loss of $262 million compared to a $206 million loss last year, impacted by a $49.5 million business reorganization charge and higher operating expenses. Gross profit margin improved to 57.6% from 52.9%.Mobile revenue grew 6.3% to $722.5 million, representing 54% of total revenue, while console revenue increased slightly to $508.9 million. Recurrent consumer spending rose 2.7% to $1.1 billion, accounting for 82% of total revenue. Digital revenue comprised 96.8% of total revenue at $1.3 billion.The company completed its acquisition of Gearbox for $440.7 million and issued $600 million in senior notes. Looking ahead, Take-Two announced plans to release Grand Theft Auto VI in Fall 2025 and implemented a cost reduction program expected to result in $160-200 million in total charges through December 2024.
