Take-Two Interactive reported Q2 FY2025 net revenue of $1.35 billion, up 4.1% year-over-year, driven by mobile growth of 14.5% to $740.2 million. However, the company posted a net loss of $365.5 million, improving from a $543.6 million loss in the prior year. Recurrent consumer spending increased 7.9% to represent 79.7% of total revenue, led by Match Factory! and Toon Blast performance.The company's console revenue declined 10.2% to $491.1 million, impacted by lower sales from Grand Theft Auto and NBA 2K franchises. Operating expenses rose 6.9% to $1.03 billion, with increased marketing spend and legal costs related to the IBM case against Zynga. The gross profit margin improved to 53.8% from 32.0% last year due to lower amortization of intangible assets.Looking ahead, Take-Two announced Grand Theft Auto VI will launch in fall 2025. The company is implementing a cost reduction program targeting $160-200 million in savings through project cancellations and organizational streamlining. Take-Two maintained strong liquidity with $1.32 billion in cash and equivalents while completing a $600 million senior notes offering in the quarter.

Take-Two Interactive reported Q2 FY2025 net revenue of $1.35 billion, up 4.1% year-over-year, driven by mobile growth of 14.5% to $740.2 million. However, the company posted a net loss of $365.5 million, improving from a $543.6 million loss in the prior year. Recurrent consumer spending increased 7.9% to represent 79.7% of total revenue, led by Match Factory! and Toon Blast performance.The company's console revenue declined 10.2% to $491.1 million, impacted by lower sales from Grand Theft Auto and NBA 2K franchises. Operating expenses rose 6.9% to $1.03 billion, with increased marketing spend and legal costs related to the IBM case against Zynga. The gross profit margin improved to 53.8% from 32.0% last year due to lower amortization of intangible assets.Looking ahead, Take-Two announced Grand Theft Auto VI will launch in fall 2025. The company is implementing a cost reduction program targeting $160-200 million in savings through project cancellations and organizational streamlining. Take-Two maintained strong liquidity with $1.32 billion in cash and equivalents while completing a $600 million senior notes offering in the quarter.