Take-Two Q4 Results Beat Estimates By Investing.com

By Yasin Ebrahim

Take-Two (NASDAQ:TTWO) reported Tuesday better-than-expected fiscal fourth-quarter results driven by strong demand for its blockbuster roster of gaming franchises including Grand Theft Auto, Red Dead Redemption and NBA 2K.

The company reported Q4 EPS of $1.88 on revenue of $839.4M, compared with estimates for EPS of $0.68 on revenue of $661.4M.

Net Bookings – the net amount of products and services sold digitally or sold-in physically –  grew 8% to $784.5M.

“The biggest contributors to net bookings for the quarter were NBA 2K21, Grand Theft Auto Online and Grand Theft Auto V, Red Dead Redemption 2 and Red Dead Online, Social Point’s mobile games, Sid Meier’s Civilization VI, Borderlands 3, Two Dots, NBA Online, and WWE SuperCard,” the company said.

Looking ahead to the first quarter, the company guided bookings in a range of $625M to $675M and income before income taxes between $138 million to $152 million.

For the full-year, EPS was guided in a range of $1.95 to $2.20 on revenue of between $3.14B to $3.24B. Net bookings was forecast to between $3.2B and $3.3B.

“As we continue to grow our business, we believe that we will achieve sequential growth in Fiscal 2023 and establish new record levels of operating results over the next few years,” Take-Two said.