The Classy Investors

  /  Stock   /  Take-Two Upgrades Outlook, but Earnings Miss In Q1

Take-Two Upgrades Outlook, but Earnings Miss In Q1

imageStock Markets8 hours ago (Aug 03, 2020 04:08PM ET)

(C) Reuters. Take-Two Earnings Miss, Revenue Beats In Q1

By Yasin Ebrahim

Investing.com – Take-Two (NASDAQ:TTWO) on Monday raised its outlook on full-year growth despite reporting mixed fiscal first-quarter results as earnings missed analysts’ expectations.

“As a result of our better-than-expected first quarter operating results and increased forecast for the balance of the year, we are raising our fiscal 2021 outlook, which is poised to be another great year for Take-Two,” the company said.

Looking ahead to the full-year, the company guided GAAP revenue in the range of $2.80 to $2.90 billion and GAAP net income between $349 and $380 million.

Take-Two announced earnings per share of $0.77 on revenue of $996.3M. Analysts polled by Investing.com anticipated EPS of $1.53 on revenue of $824.06M.

Net bookings, the number of products and services sold digitally or sold-in physically, grew 136% to $996.2 million, driven by sales of games such as Grand Theft Auto Online and Grand Theft Auto V; NBA 2K20; Red Dead Redemption 2 and Red Dead Online; Borderlands 3; Sid Meier’s Civilization VI; Social Point’s mobile offerings; the WWE series; and The Outer Worlds.AAP net revenue is expected to range from $750 to $800 million

Net Bookings (operational metric) for the full-year were expected to range from $2.80 to $2.90 billion.

Take-Two shares are up 37.25% from the beginning of the year and hit a 52-week high of $169.13 on Monday. They are outperforming the Nasdaq 100 which is up 26.59% from the start of the year.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar

Take-Two Upgrades Outlook, but Earnings Miss In Q1

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.