Apps & Software
Analysts Get Even More Bullish in Take-Two
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Take-Two Interactive Software Inc. (NASDAQ: TTWO) reported its fiscal third-quarter financial results on Wednesday. 24/7 Wall St. has reviewed a few analyst calls that came after the company posted its results and most were fairly positive on this video game designer.
The company had $0.89 in earnings per share (EPS) on $414.2 million in revenue, compared to consensus estimates of $0.49 in EPS on $458.4 million in revenue.
During the holiday season, Take-Two had raised consumer demand for its recent releases and catalog, which enabled the company to deliver another quarter of strong revenue and cash flow. Ultimately, these results were driven by robust sales of Grand Theft Auto V, NBA 2K16 and WWE 2K16, along with the highest-ever revenue from recurrent consumer spending.
Strauss Zelnick, chairman and CEO of Take-Two, commented on earnings:
As a result of our third quarter outperformance and solid forecast for the balance of the year, we are once again raising our financial outlook for fiscal 2016, which is poised to be another year of meaningful profits for Take-Two. Looking ahead, we have an extensive development pipeline that positions our Company for revenue growth and margin expansion over the long-term. We are excited about this Friday’s release of XCOM 2, which has received stellar early review scores, and anticipation already is building for the fiscal 2017 launches of Battleborn and Mafia III.
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