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T2 TAKE - TWO INTERACTIVE Take - Two Interactive Software , Inc. Reports Strong Results for Fiscal Second Quarter 2022 November 3 , 2021 GAAP net revenue increased 2 % to $ 858.2 million GAAP net income per diluted share was $ 0.09 GAAP net cash provided by operating activities for the six - months ended September 30 , 2021 was $ 283.7 million Adjusted Unrestricted Operating Cash Flow ( Non - GAAP ) for the six - months ended September 30 , 2021 was $ 56.1 million Net Bookings increased 3 % to $ 984.9 million Company raises its Net Bookings outlook for fiscal year 2022 to $ 3.3 to $ 3.4 billion Company repurchased 1.26 million shares of common stock for approximately $ 200 million at an average share price of $ 158.67 NEW YORK -- ( BUSINESS WIRE ) -- Nov . 3 , 2021-- Take - Two Interactive Software , Inc. ( NASDAQ : TTWO ) today reported strong results for the second quarter of its fiscal year 2022 , ending September 30 , 2021. In addition , the Company raised its outlook for the fiscal year 2022 , ending March 31 , 2022 , and provided its initial outlook for the third quarter of its fiscal year 2022 , ending December 31 , 2021. For further information , please see the second quarter fiscal 2022 results slide deck posted to the Company's investor relations website at http://ir.take2games.com . Second Quarter Fiscal 2022 Financial Highlights GAAP net revenue increased 2 % to $ 858.2 million , as compared to $ 841.1 million in last year's fiscal second quarter . Recurrent consumer spending ( which is generated from ongoing consumer engagement and includes virtual currency , add - on content and in - game purchases ) increased 8 % and accounted for 66 % of total GAAP net revenue . Digitally - delivered GAAP net revenue increased 7 % to $ 779.1 million , as compared to $ 725.7 million in last year's fiscal second quarter , and accounted for 91 % of total GAAP net revenue . The largest contributors to GAAP net revenue were NBA® 2K22 and NBA 2K21 ; Grand Theft AutoⓇ Online and Grand Theft Auto V ; Red Dead Redemption 2 and Red Dead Online ; Borderlands® 3 ; Two DotsⓇ ; Sid Meier's Civilization® VI ; and Dragon CityⓇ . GAAP net income was $ 10.3 million , or $ 0.09 per diluted share , as compared to $ 99.3 million , or $ 0.86 per diluted share , for the comparable period last year . Cost of goods sold included a $ 53 million impairment charge related to the Company's decision not to proceed with further development of an unannounced title in its pipeline . During the six month - period ended September 30 , 2021 , GAAP net cash provided by operating activities was $ 283.7 million , as compared to $ 626.7 million in the same period last year . During the six month - period ended September 30 , 2021 , Adjusted Unrestricted Operating Cash Flow ( Non - GAAP ) , which is defined as GAAP net cash from operating activities , adjusted for changes in restricted cash , was $ 56.1 million , as compared to $ 536.2 million in the same period last year ( please see the section below titled " Non - GAAP Financial Measure " for additional information ) . As of September 30 , 2021 , the Company had cash and short - term investments of $ 2.3 billion . The following data , together with a management reporting tax rate of 16 % , are used internally by the Company's management and Board of Directors to adjust the Company's GAAP financial results in order to facilitate comparison of its operating performance between periods and to better understand its core business and future outlook : Net revenue Cost of goods sold Three Months Ended September 30 , 2021 Statement of Operations $ 858,198 456,682 Financial Data Change in deferred net revenue and related cost of goods sold 126,654 8,606 Stock - based compensation ( 10,366 ) Amortization and Impact of business impairment reorganization of acquired intangibles ( 13,985 ) Gain ( loss ) Business on long - term acquisition investments , net