Take Two Interactive Quarterly Earnings
Take-Two Interactive (TTWO) reported strong results for its fiscal first
quarter 2021 ended June 30, 2020. In addition, the Company provided its initial outlook for its fiscal second quarter ending September 30, 2020 and
increased its outlook for the fiscal year 2021, ending March 31, 2021. The stock was up over 4% in after hours trading.
- GAAP net revenue grew 54% to $831.3 million, a fiscal first quarter record
- GAAP net income per diluted share increased 88% to $0.77
- GAAP net cash provided by operating activities for the three-months ended June 30, 2020 increased 310% to $445.4 million
- Adjusted Unrestricted Operating Cash Flow (Non-GAAP) for the three-months ended June 30, 2020 increased 595% to $324.0 million
- Net Bookings grew 136% to $996.2 million, a fiscal first quarter record
- Company raises outlook for fiscal year 2021
Strauss Zelnick, chairman and CEO of TakeTwo provided the following statement:
“Fiscal 2021 is off to a terrific start with first quarter operating results that significantly exceeded our expectations, including fiscal first quarter records for GAAP net revenue and Net Bookings. Our extraordinary results were driven primarily by the outperformance of NBA 2K20, Grand Theft Auto V and Grand Theft Auto Online, Red Dead Redemption 2 and Red Dead Online, and Social Point’s mobile games.”
For additional information, please see the fiscal first quarter 2021 results slide deck posted to the Company’s investor relations website at http://ir.take2games.com
