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Take-Two hits targets for September quarter with $1.47B in net bookings
Take-Two Interactive Software reported that its net bookings hit $1.47 billion in the fiscal second quarter ended September 30, up 2% from $1.44 billion a year ago. The bookings growth was driven by sales of the Grand Theft Auto and Borderlands franchises, and the company reiterated its out look for net bookings for the year […]
“Our net bookings of $1.47 billion were at the top of our guidance range, driven by the continued success of the Grand Theft Auto and Borderlands franchises, and our operating resultssurpassed our plans, largely due to a shift in the timing of marketing expenses within the year.” Backed by a month-long marketing campaign, the release generated positive sentiment around the community, which helped solidify the largest in-app purchase spending per active user in the game’s 14-year history. Since Take-Two capitalizes its costs, Rockstar’s spending on GTA 6 shows up on the balance sheet for now, and the company expects to incur marketing fees around the launch, said Hannah Sage, EVP of finance and chief accounting officer, in an interview with GamesBeat.
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