Take-Two Interactive reported $1.22 billion in net bookings for its fiscal first quarter of 2025, up 1% from $1.20 billion a year earlier. The “flat” figure described recurrent consumer spending, which was unchanged and made up 83% of bookings. The quarter ended June 30, 2024; the company announced results on August 8, 2024.
What Take-Two reported for the June 2024 quarter
The company’s release headline highlighted $1.22 billion in net bookings, in line with its guidance. Its results distinguish bookings from recurrent spending and from GAAP net revenue:
| # | Preview | Product | Price | |
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| 1 |
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It takes two (xbox one) | $36.99 | Buy on Amazon |
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It Takes Two - Compatible with Nintendo Switch (EU Version) | $35.20 | Buy on Amazon |
| Measure | Fiscal Q1 2025 result | Year-over-year comparison |
|---|---|---|
| Net bookings | $1.22 billion | Up 1% from $1.20 billion |
| Recurrent consumer spending | Flat; 83% of net bookings | Flat |
| GAAP net revenue | $1.34 billion | Up 4% from $1.28 billion |
| GAAP net loss | $262.0 million, or $1.52 per share | Compared with a $206.0 million loss, or $1.22 per share |
These are company-reported figures for the three months ended June 30, 2024, not current performance. Take-Two’s fiscal Q1 2025 results release provides the figures and definitions.
Why the word “flat” needs context
Net bookings increased 1%, while recurrent consumer spending was flat. Take-Two defines net bookings as the net amount of products and services sold during a period, whether digitally or physically, and includes licensing fees, merchandise, in-game advertising, strategy guides and publisher incentives. Recurrent consumer spending is ongoing player-engagement spending, including virtual currency, add-on content, in-game purchases and in-game advertising.
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The two measures are not interchangeable with GAAP net revenue. In this quarter, revenue grew 4%, bookings rose 1%, and recurrent spending did not grow. Each answers a different question about the company’s business, so describing the whole quarter as having “flat bookings” overstates what the release says.
Which games contributed most
Take-Two named the following as its largest net-bookings contributors for fiscal Q1 2025:
- NBA 2K24
- Grand Theft Auto Online and Grand Theft Auto V
- Toon Blast
- Its hyper-casual mobile portfolio
- Empires & Puzzles
- Match Factory!
- Red Dead Redemption 2 and Red Dead Online
- Words With Friends
- Merge Dragons!
The release does not give dollar bookings or individual growth rates for these titles. Their appearance on the list therefore identifies portfolio contributors, not which game drove the year-over-year change.
Rank #2
- Step into the shoes of Cody and May, a clashing couple who turn into dolls through unknown magical means. Trapped in a fantastical world where unpredictability hides around every corner, they must reluctantly learn to overcome their differences, save their fractured relationship, and find their path back home to their beloved daughter Rose
- You and a friend can play couch co-op with a pair of Joycons and a second gamepad, utilize local wireless play by connecting two Switch consoles together, or play online co-op with another Switch player using Friend’s pass
- Voice-overs in Japanese, French, German, and Spanish, as well subtitles spread even further across regions, allow more players to experience the game's unpredictable world
- Filled with genre-bending challenges and character abilities to master as you experience a metaphorical merging of gameplay and narrative to push the boundaries of interactive storytelling like never before
What Take-Two forecast at the time
In August 2024, Take-Two forecast fiscal 2025 net bookings of $5.55 billion to $5.65 billion. That was management’s outlook at the time, not a reported full-year result. CEO Strauss Zelnick said, “We achieved solid first quarter results by engaging our players with exciting new game releases and content updates, while also maintaining our focus on efficiency.”
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1Clear out junk files and repair common Windows errors2Scan for outdated or missing drivers - takes under a minute3Repair Windows errors before they cause bigger problemsHow the June-quarter result compares with later years
The 2024 result is historical, and later June-quarter reports show that bookings did not follow a single trend. Take-Two reported $1.42 billion in net bookings, up 17% year over year, for fiscal Q1 2026, ended June 30, 2025. For fiscal Q1 2027, ended June 30, 2026, it reported $1.39 billion, down 3% year over year, and reiterated a fiscal 2027 net-bookings outlook of $8.0 billion to $8.2 billion. These later figures are from the company’s fiscal Q1 2026 release and fiscal Q1 2027 release.
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