Take Two's Evolve: Scathing Reviews And Sub-Par Sales
Kevin Hess • 12 Comments
Kevin Hess • 12 Comments
Wed, May 18, 4:31 PM
- Take-Two (NASDAQ:TTWO) is up 1.2% in choppy postmarket trading following a fiscal Q4 earnings report where it beat expectations but guided well below consensus for the out quarter and full year.
- Revenues by region: United States, $196M (up 19%); International, $181.2M (up 33.8%).
- For Q1, it's guiding to non-GAAP revenue of $225M-$260M (short of consensus for $304M) and a non-GAAP net loss per share of $0.40 to $0.30, vs. an expected profit of $0.23/share. For the full year, it's forecasting non-GAAP revenues of $1.5B-$1.6B (vs. expected $1.773B) and non-GAAP EPS of $1.00-$1.25, short of consensus for $2.00.
- Conference call to come at 4:30 p.m. ET.
- Press Release
Wed, May 18, 4:12 PM
Tue, May 17, 5:35 PM
Wed, Feb. 3, 4:11 PM
- Take-Two Interactive Software (NASDAQ:TTWO): FQ3 EPS of $0.89 beats by $0.39.
- Revenue of $486.8M (-49.0% Y/Y) beats by $34.01M.
- Shares +7.3% AH.
Tue, Feb. 2, 5:35 PM
- AAV, ALL, AVB, AWH, BDN, BRKS, BWLD, BXP, CACI, CBL, CCK, CDNS, CEB, CINF, CPST, DHT, ENH, EPM, EXAR, FBHS, GEOS, GLUU, GPRO, HIVE, HUBG, ICUI, IMPV, LCI, LNC, MAA, MAC, MCHP, MDU, MET, MNR, MTGE, MTRX, MUSA, MWA, NE, NXPI, OSUR, PACB, PCL, PMT, PNNT, RE, RGLD, RRTS, SFLY, SPSC, TIS, TMK, TTWO, TWO, UHAL, WFT, WSTL, XL, YUM
Nov. 5, 2015, 4:58 PM
- Videogame maker Take-Two Interactive (TTWO -2.9%) is up 2.9% postmarket as it posted fiscal Q2 results with strong beats on top and bottom lines and raised guidance.
- Revenue leapt 169% as the company's sports titles brought heavy contributions to the table. NBA 2K16, Grand Theft Auto V and Grand Theft Auto Online, and even NBA 2K15 were the biggest contributors to revenue, while Borderlands and WWE 2K added strength in digitally delivered content.
- It's successfully launched WWE 2K16 and Evolve Ultimate Edition, and next up are the Borderlands Triple Pack and Civilization Revolution 2 Plus.
- The company raised its outlook for fiscal 2016, to non-GAAP net revenue of $1.325B-$1.425B (in line) and for EPS of $1.00-$1.15 (on the high side of an expected $1.02). For Q3 it sees revenue of $400M-$450M (vs. $443.3M expected) and EPS of $0.40-$0.50 (vs. consensus of $0.45).
Nov. 5, 2015, 4:25 PM
- Take-Two Interactive Software (NASDAQ:TTWO): FQ2 EPS of $0.30 beats by $0.15.
- Revenue of $364.93M (+169.4% Y/Y) beats by $46.6M.
- Shares +0.61%.
Nov. 4, 2015, 5:35 PM
- AAOI, ABCO, ABTL, ACAD, ACET, ACHN, AEGR, AGO, AHS, AIRM, AL, ALEX, ALIM, AMBR, AMRS, AMTG, ANET, ARCW, ATHX, ATSG, BBG, BBRG, BCEI, BEBE, BLDR, BPI, BRKS, BRS, CALD, CBI, CERS, CLNE, CLVS, CMLS, CORT, CPST, CSOD, CTCT, CUBE, CYBR, CYTX, DATA, DIOD, DIS, DMD, DWA, EAC, EBS, ECOM, ECPG, ED, EFC, EGN, EGOV, ELON, EOG, ERII, EVC, EXAR, FICO, FNGN, FTEK, FXCM, GDOT, GERN, GLUU, GSAT, GSM, GST, GXP, HAIN, HBM, HE, HK, HNSN, HTGC, ICUI, INAP, INFI, INWK, IRG, JJSF, KHC, KTOS, LBTYA, LNT, MAIN, MASI, MDRX, MDVN, MED, MHK, MITK, MNST, MRC, MSCC, MTD, NEWR, NFG, NKTR, NVDA, OLED, ONTY, OREX, OUT, PCTY, PETX, PKI, PLT, PODD, PRAA, PRO, PXLW, QRVO, RATE, RBA, RLYP, RMAX, RPTP, RRMS, RRTS, SEMG, SHAK, SKUL, SLH, SNAK, SREV, SSRI, STMP, SWIR, SWKS, TCRD, TCX, TEAR, TNGO, TRIP, TRMR, TRQ, TRUE, TTWO, UBNT, UEPS, VRNS, VVC, WAGE, WG, WIFI, WTW, XOMA, YUME
Aug. 10, 2015, 4:47 PM
- Take-Two Interactive (NASDAQ:TTWO) has dropped 3.2% after hours, adding on to today's 1.7% decline, as its fiscal Q1 missed profit expectations despite growing non-GAAP revenues by more than double.
- The company swung to a net profit of $0.31/share, from a year-ago loss of $0.14/share, in non-GAAP terms.
- Biggest contributors to revenue were Grand Theft Auto V and Grand Theft Auto Online, NBA 2K15, Borderlands: The Handsome Collection and WWE 2K15. Digitally delivered content revenue was up 139% to $254M, and 36% of that was recurrent spending, including virtual currency and downloadable add-ons.
- Next in the pipeline this fall: NBA 2K16, WWE 2K16, and XCOM 2.
- Cash and short-term investments grew to $1.19B at quarter's end.
Aug. 10, 2015, 4:28 PM
- Take-Two Interactive Software (NASDAQ:TTWO): FQ1 EPS of $0.31 misses by $0.05.
- Revenue of $366.39M (+141.7% Y/Y) beats by $14.98M.
- Shares -3.04%.
Aug. 9, 2015, 5:35 PM| Aug. 9, 2015, 5:35 PM | 13 Comments
May 19, 2015, 12:20 PM
- Take-Two Interactive Software (NASDAQ:TTWO) is soaring, up 15.5%, after an earnings report where it provided strong guidance for the coming quarter and counted the successes of titles like Grand Theft Auto V and NBA 2K15.
- Sterne Agee upgraded shares from Neutral to Buy today, setting a raised price target of $32. Shares are trading currently at $27.94.
- Other analysts noted what looked like soft full-year guidance seemed in line with expectations considering the lack of a full Rockstar Games release. Wedbush's Michael Pachter said facing an "underwhelming" release slate, the company's guidance (EPS of $0.75-$1.00 and non-GAAP revenues of $1.3B-$1.4B) fit his expectations, and Wedbush raised its target to $26 from $24.
- Credit Suisse's Stephen Ju pointed to increased digital sales (up 66%) as a positive mix shift, but that the shares have a balanced risk-reward profile. The firm raised its target to $32 from $28.
- Previously: Take-Two up 7.3% after earnings; details pipeline, Asia plans (May. 18 2015)
May 18, 2015, 5:44 PM
- Take-Two Interactive (NASDAQ:TTWO) is up 7.3% after hours following its fiscal Q4 and year-end results, where some revenue deferrals made for a heavy GAAP loss but boosted strong guidance for Q1. The company's forecast for the coming year was also to the downside of expectations.
- Elaborating on forecasting on its earnings call, CEO Strauss Zelnick noted that despite a slow pipeline from Rockstar Games, they're hard at work on a number of upcoming titles: "Rockstar today is different from the Rockstar of a few years ago," he said noting that the release of Grand Theft Auto Online has changed its world as "a living, breathing entity" that generates revenue and profits on an ongoing basis.
- The company increased its buyback authorization to 10M shares; on the call, management noted that buybacks aren't anticipated in its expectations for a fiscal 2016 EPS of $0.75-$1.00.
- Regarding Asia Pacific, Zelnick said it's a "very significant area of focus for us," pointing to NBA 2K's monthly revenues/profits. "Now we feel a little more confident about financial risk because we have a good deal of experience in the region ... I think in the Chinese market, it's likely that we -- and our competitors -- will have local partners. The Chinese government wants us to work with strong local partners, and Tencent and others are proving to be exceedingly strong partners for us."
May 18, 2015, 4:28 PM
- Take-Two Interactive (NASDAQ:TTWO) spent the last 10 minutes sinking into the close to finish -2%, just before an earnings release for its fiscal Q4 showing a miss on revenues despite 83% growth.
- GAAP results showed a net loss of $2.99/share, reflecting some net revenue and cost of goods deferrals. On a non-GAAP basis, EPS was $0.49 vs. an expected $0.28 and against last year's $0.21.
- Revenue from digitally delivered content was up 66% Y/Y, to $202.5M. Biggest contributors to revenue for Q4: Grand Theft Auto V (freshly released for PC), Grand Theft Auto Online, Evolve, NBA 2K15 and Borderlands: The Handsome Collection.
- It's increased its buyback authorization up to an aggregate 10M shares.
- The firm's guiding high for its fiscal Q1, for non-GAAP revenues of $325M-$350M vs. $207M expected, and for EPS of $0.25-$0.35 vs. an expected -$0.01. For fiscal 2016, the company expects non-GAAP net revenue of $1.3B-$1.4B, lower than expected $1.82B, and EPS of $0.75-$1.00 vs. an expected $1.87.
- Conference call at 4:30 p.m. ET.
May 18, 2015, 4:14 PM
- Take-Two Interactive Software (NASDAQ:TTWO): FQ4 EPS of $0.49 beats by $0.22.
- Revenue of $427.73M (+83.4% Y/Y) misses by $31.21M.
Take-Two Interactive Software, Inc. is a developer, marketer and publisher of interactive entertainment for consumers around the globe. The company develops and publishes products through its two wholly-owned labels Rockstar Games and 2K. Its products are designed for console systems, handheld... More
Industry: Multimedia & Graphics Software
Country: United States
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