• Loading stock data...
Tuesday, April 1, 2025
Nominations Are Open for Front Office Sports Honors! Submit Now

‘NBA 2K’ Owner Posts $1.1B Quarter, Misses Estimates

  • Projected adjusted earnings per share ranged between $4.60 to $4.85 in FY2023.
  • Wall Street estimates expected an average of $5.37 per share, per Bloomberg.
2K

Take-Two Interactive reported mixed results in its latest earnings report, adding to a growing list of video game companies with underwhelming profits this year.  

The New York-based company — which owns major video game publishers including Rockstar Games and 2Kgenerated $1.1 billion in revenue in fiscal Q1, a 36% increase year-over-year. 

  • Projected adjusted earnings per share range between $4.60 to $4.85 in FY2023.
  • Wall Street estimates expected an average of $5.37 per share, per Bloomberg.
  • The company has also seen its stock fall roughly 29% in 2022.

Take-Two will look to garner stronger results for the rest of FY2023 following the acquisition of mobile game developer Zynga for $12.7 billion in May. 

The deal has already paid dividends for Take-Two, which reported $1 billion in net bookings in fiscal Q1 2023, up 40% compared to the same period the year prior. The company also saw recurrent consumer spending — 75% of net bookings — grow 48% during the quarter.

As a result, Take-Two raised its full-year net bookings outlook, projecting a range between $5.8 billion and $5.9 billion, surpassing estimates of $5.42 billion.

Big Deal 

Take-Two’s deal for Zynga allows the company to expand its reach in a mobile gaming market expected to reach $338 billion by 2030. Last year, the market was worth roughly $119 billion.

The acquisition — first announced in January 2022 — was funded with $2.7 billion in financing from JPMorgan Chase, Take-Two’s balance sheet, and a debt issuance.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Mar 20, 2025; Providence, RI, USA; Arkansas Razorbacks forward Karter Knox (11) controls the ball against Kansas Jayhawks during the first half at Amica Mutual Pavilion.

Men’s March Madness Sets Opening-Day Viewership Record

CBS Sports and TNT Sports scored big with Arkansas–Kansas.

Callaway’s LIV Deal Shows How Much Golf Has Shifted

The company has signed a first-of-its-kind club contract.
Jun 13, 2018; Moscow, Russia; A general view of a beer stand inside of Luschniki Stadium one day prior to the start of the FIFA World Cup 2018.

Saudi Arabia Says No Alcohol at 2034 World Cup

Saudi Arabia won’t allow alcohol anywhere during the 2034 World Cup.
U.S. Soccer Federation president Carlos Cordeiro (left) and Sunil Gulati (center) and MLS commissioner Don Garber (right) pose for a photo.

Billionaire Who Chaired NASL Admits He Used Burner Account to Attack MLS,..

Rocco Commisso, the Mediacom founder, compared the MLS commissioner to Harvey Weinstein.

Featured Today

Seattle Kraken

Samantha Holloway Is Seattle’s NHL Present—and Hopeful NBA Future

Samantha Holloway is steering the Kraken and hoping to revive pro hoops.
Brehanna Daniels
March 31, 2025

NASCAR Pit Crew Member Brehanna Daniels Didn’t Know She’d Be a Trailblazer

The first Black female tire changer didn’t know she’d be a trailblazer.
Columbia, SC - February 16, 2025 - Colonial Life Arena: Rebecca Lobo and Ryan Ruocco during a regular season game.
March 30, 2025

Inside Ryan Ruocco’s Rapid Rise to ESPN’s Top Voice of Women’s Hoops

The top voice became “quickly addicted” to calling the women’s game.
Mar 27, 2025; Newark, NJ, USA; Alabama Crimson Tide guard Chris Youngblood (8) and the Alabama Crimson Tide bench celebrate during the second half against the Brigham Young Cougars during an East Regional semifinal of the 2025 NCAA tournament at Prudential Center.
March 29, 2025

How Alabama Became College Basketball’s Newest Juggernaut

The Crimson Tide have found success rivaling their historic football program.

Nike Struggles Continue, but Signs of Turnaround Appear

The embattled company beats tepid expectations in both revenue and earnings.
Aug 11, 2024; Paris, France; Medals are carried out on Louis Vuitton trays after the women's volleyball gold medal match during the Paris 2024 Olympic Summer Games at South Paris Arena
February 16, 2025

LVMH’s New Push: World’s Most Powerful Luxury Group Is Coming for Sports

LVMH is making long-term deals—and they’re not done.
Oracle Park
March 18, 2025

S.F. Giants Selling Stake to Private Equity to Pay for Facility Upgrades

The team said the cash would not be used to grow payroll.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
February 14, 2025

DraftKings Turns First Full-Year Profit, Stock Up 47% in 2025

The company’s sports betting business continues to grow despite headwinds.
Billie Jean King
February 13, 2025

Billie Jean King: ‘Billionaires, Not Millionaires’ Are Fueling Women’s Sports Boom

Billie Jean King wants more women involved in team ownership, too.
February 5, 2025

Under Armour’s Desired Turnaround Sees Sparks With Q3 Earnings Beat

The 2010s darling has been struggling to find the right formula.
Russ Brandon
January 14, 2025

UFL President: NFL Used to View Private Equity Like Gambling 

The longtime NFL executive is stunned by the league’s evolution on PE.