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Take-Two Q1 results include net bookings ahead of guidance, a slight increase in revenue, and cancellation of unannounced "new core IP" game
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The company also confirmed a $43.4M revenue impairment due to the cancellation of an "unannounced title in its pipeline from a third-party developer", which contributed to a significant increase in net loss YoY.
Total RCS declined 1% for the period, which beat the firm's previous guidance of a 3% decline, and accounted for 84% of net bookings.
The increases for NBA 2K and GTA were offset by a decline of 7% on mobile.
Looking ahead, the firm's projected $8 to $8.2B in net bookings is expected to be 37% Rockstar Games, 34% Zynga, and 29% 2K.
RCS is expected to decline 5%, with growth for NBA 2K and GTA and a decline for mobile.