Take-Two Interactive Software, Inc. (NASDAQ:TTWO) reported its fourth-quarter results on Monday after the closing bell. Profit was lower than a year ago but beat analysts’ estimates. The publisher of “Grand Theft Auto” reported a drop in demand from pandemic highs.
Q4 HighlightsNet revenue increased 11% to $930 million in the quarter ended March 31, while the cost of goods sold increased 43% to $399 million, driven by the amortization of software development costs for the company’s fourth-quarter releases.
Operating expenses increased 32% to $403 million due to the addition of Nordeus, including its ...
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Take-Two Interactive Beats on Earnings, Reports Drop in Demand