Take-Two Interactive Software TTWO reported its fourth-quarter earnings report after Monday's closing bell.
Fourth-quarter GAAP earnings came in at 50 cents per share, which does not compare to the 75-cent estimate. Sales came in at $539.007 million, beating estimates by $32.54 million.
The company sees first-quarter sales of $485 million-$535 million, which may not compare to the $418.3 million estimate.
"For the full fiscal year, our Company delivered record Net Bookings and Adjusted Operating Cash Flow, which exceeded our outlook at the start of the year, along with strong earnings growth driven by the record-breaking launch of Red Dead Redemption 2, the outstanding performance of NBA 2K, and better-than expected results from Grand Theft Auto Online and Grand Theft Auto V," said CEO Strauss Zelnick.
"We expect fiscal 2020 to be another strong year for Take-Two, with operating results currently forecasted to be lower than fiscal 2019, due to the extraordinary success of Red Dead Redemption 2, and growing as compared to fiscal 2018.”
- Total net bookings grew 19 percent year-over-year
- Digitally-delivered net bookings grew 26 percent year-over-year
- 1.12 million shares were repurchased in the quarter, worth $100 million
Take-Two's stock closed Monday's session at $100.01 per share, down 3.2 percent. The stock was down about 5.7 percent in after-hours trading.
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