
When Take-Two Interactive Software Inc. (NASDAQ: TTWO) reported its most recent quarterly results after the markets closed on Monday, the video game firm said that it had $0.41 in earnings per share (EPS) and $540.46 million in revenue. The consensus estimates had called for $0.02 in EPS and $363.79 million in revenue, and it the fiscal first quarter of last year it said had EPS of $0.62 on revenue of $387.98 million.
During the most recent quarter, total net bookings grew 46% to $422.2 million, from $288.3 million in the same period of last year. Net bookings from recurrent consumer spending grew 55% and accounted for 67% of total net bookings. Digitally delivered net bookings grew 51% to $382.5 million, as compared to $252.8 million in last year’s fiscal first quarter, and accounted for 91% of total net bookings.
Some of the largest contributors to the quarter were “NBA 2K19,” “Grand Theft Auto Online,” “Grand Theft Auto V,” “Red Dead Redemption 2,” “Red Dead Online,” the Borderlands franchise, Social Point’s mobile offerings, “WWE SuperCard” and “WWE 2K19” and “Sid Meier’s Civilization VI.”
Looking ahead to the fiscal second quarter, the company expects to see EPS in the range of $1.04 to $1.14 and revenue between $855 million and $905 million. The consensus estimates are $1.69 in EPS and $852.46 million in revenue.
Strauss Zelnick, board chair and chief executive of Take-Two, commented:
Fiscal 2020 is off to a terrific start with first quarter operating results that beat our expectations. We delivered significant Net Bookings and cash flow growth driven by the performance of Grand Theft Auto Online and Grand Theft Auto V, NBA 2K19, the Borderlands franchise, and Red Dead Redemption 2 and Red Dead Online.
Shares of Take-Two traded up about 9% on Tuesday to $126.00, in a 52-week range of $84.41 to $139.91. The consensus price target is $125.92.
It’s Your Money, Your Future—Own It (sponsor)
Are you ahead, or behind on retirement? Finding a financial advisor who puts your interest first can be the difference, and today it’s easier than ever. SmartAsset’s free tool matches you with up to three fiduciary financial advisors that serve your area in minutes. Each advisor has been carefully vetted, and must act in your best interests. Start your search now.
Don’t waste another minute; get started right here and help your retirement dreams become a retirement reality.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.