Oct. 29, 2014, 4:59 PM| 1 Comment
Oct. 29, 2014, 4:35 PM| 1 Comment
Aug. 5, 2014, 6:14 PM
- Take-Two (NASDAQ:TTWO) expects FQ2 revenue of $95M-$110M and EPS of -$0.60 to -$0.70, well below a consensus of $274.4M and $0.01. However, with a healthy fall lineup still on tap, FY15 (ends March '15) guidance for revenue of $1.35B-$1.45B and EPS of $0.80-$1.05 is reiterated for now; consensus is at $1.43B and $1.03.
- The launch date for anticipated first-person shooter Evolve has been pushed back to Feb. 10, 2015; the game was originally set to launch on Oct. 21.
- NBA 2K14, GTA V, GTA Online, and Borderlands 2 were the biggest contributors to FQ1 sales. Digitally-delivered content sales grew 43% Y/Y to $106.4M (70% of total revenue). GAAP costs/expenses rose 6% to $104.5M.
- NBA 2K15 is set to launch on Oct. 7, Borderlands: The Pre-Sequel on Oct. 14. GTA V arrives on the PS4 and Xbox One (previous) sometime this fall.
- FQ1 results, PR
Aug. 5, 2014, 5:23 PM| Comment!
May. 13, 2014, 4:48 PM
- Take-Two Interactive (TTWO) -1.7% AH after reporting FQ4 earnings and revenues that easily beat expectations but issuing downside guidance for the current quarter and fiscal year.
- In FQ4, steady sales of new videogame titles including "Grand Theft Auto" were not enough to prevent a 23% drop in revenue over the year-ago quarter when results benefited from the release of "BioShock Infinite."
- Guidance for Q1 sees EPS loss of $0.35-$0.25 vs. analysts consensus estimate of a $0.12 loss, and revenues of $120M-$135M vs. $223M consensus.
- FY 2015 guidance forecasts EPS of $0.80-$1.05 vs. $1.10 consensus and revenues of $1.35B-$1.45B vs. $1.38B consensus.
May. 13, 2014, 4:15 PM| 2 Comments
May. 12, 2014, 5:35 PM
Feb. 7, 2014, 7:15 PM
- More than two decades have passed since Activision (ATVI +14.4%) last traded at current levels, as a Q4 beat, slight dividend hike, World of Warcraft subscriber growth, and game pipeline enthusiasm took precedence over below-consensus 2014 guidance.
- Rivals Electronic Arts (EA +2.8%) and Take-Two (TTWO +2.2%) joined in on the fun. Shares of both companies are roughly $1 removed from their respective 52-week highs.
- BofA/Merrill's Justin Post notes Activision has a history of issuing conservative full-year guidance to start the year, and considers the WoW sub growth a pleasant surprise.
- Wedbush's Michael Pachter is upbeat about a 2014 pipeline that includes updates to WoW and Diablo III, and the launch of anticipated open world first-person shooter Destiny. He thinks the game could produce $500M or more in sales following its September release.
- Activision stated on its CC (transcript) it thinks Destiny could be its third billion-dollar franchise (after Call of Duty and Skylanders), and that it's moving to a 3-year development cycle for Call of Duty titles (three studios take turns launching titles) to allow for better game development.
Feb. 3, 2014, 4:28 PM
- Take-Two (TTWO) attributes its big FQ3 beat to strong holiday season sales of Grand Theft Auto V, NBA 2K14, and WWE 2K14, as well as solid digital sales growth (led by Grand Theft Auto Online).
- For seasonally weak FQ4 (revenue is typically a fraction of FQ3 levels), Take-Two expects revenue of $170M-$200M and EPS of $0.00-$0.10, less than a consensus of $219.2M and $0.13. But Take-Two's FQ3 beat will likely overshadow its guidance.
- $276.8M has been spent since Oct. 1 to buy back 16.2M shares (12M of those shares were purchased from Carl Icahn), providing a boost to EPS. Opex rose 16% Y/Y in FQ3 to $137.8M.
- Take-Two's next major game launches are BioShock Infinite: Burial at Sea Episode 2 (ETA unknown) and Evolve (expected this fall).
- CC at 4:30PM ET. FQ4 results, PR.
Feb. 3, 2014, 4:11 PM| Comment!
Feb. 3, 2014, 12:10 AM
Feb. 2, 2014, 5:35 PM
Oct. 29, 2013, 5:18 PM
- Following a halt, Take-Two (TTWO) is moderately higher AH after blowing away FQ2 estimates on the back of huge Grand Theft Auto V sales, and issuing strong FQ3/FY14 guidance. However, investors were expecting a big quarter in light of industry data and Take-Two's prior announcements.
- Take-Two, whose annual results have had a strong boom-bust quality to them over the years (thanks to a dependence on big game launches), now says it's confident its can achieve non-GAAP profitability in FY15 (ends March '15) and every subsequent year "for the foreseeable future."
- Nearly 29M GTA V units have been sold thus far; that figure surpasses lifetime sales of Grand Theft Auto IV. Promotional activity for the game contributed to a 54% Y/Y increase in sales/marketing spend to $101.3M. R&D spend +37% to $26.5M, G&A +40% to $43M.
- Digital sales totaled $105.5M, or 8% of revenue.
Oct. 29, 2013, 4:23 PM
- YELP expects Q4 revenue of $66M-$72M, above a $64.8M consensus. Shares -1.5% AH. (Q3 results, PR)
- Take-Two (TTWO) expects FQ3 revenue of $650M-$700M and EPS of $1.20-$1.35, largely above a consensus of $640.9M and $1.22. FY14 (ends March '14) guidance is for revenue of $2.2B-$2.3B and EPS of $3.50-$3.75, above a consensus of $2.03B and $2.80. Shares are halted. (FQ2 results, PR)
- Electronic Arts (EA) expects FQ3 revenue of $1.65B and EPS of $1.22, below a consensus of $1.75B and $1.32. However, FY14 (ends March '14) guidance is stronger: revenue of $4B and EPS of $1.25 vs. a consensus of $4.02B and $1.22. Shares +2% AH. (FQ2 results, PR).
- Flextronics (FLEX) expects FQ3 revenue of $6.5B-$6.9B and EPS fo $0.21-$0.25 vs. a consensus of $6.79B and $0.25. Shares -1.6% AH. (FQ2 results, PR)
Oct. 29, 2013, 4:18 PM
Jul. 30, 2013, 4:56 PM
- Take-Two (TTWO) expects FQ2 revenue of $750M-$800M and EPS of $1.20-$1.35, below a consensus of $814.6M and $1.57.
- But FY14 revenue/EPS guidance has been raised to $1.775B-$1.875B and $2.25-$2.50 from a prior $1.75B-$1.85B and $2-$2.25 (consensus is at $1.85B and $2.35).
- The launches of Grand Theft Auto V (due Sep. 17) and NBA 2K14 (due in "late 2013") will likely make or break FY14 for Take-Two.
- FQ1 EPS lifted by a 30% Y/Y drop in opex, stemming largely from a 47% drop in sales/marketing spend to $41.6M. R&D spend +36% to $20.8M.
- "Digitally delivered content" sales rose 128% Y/Y and made up 52% of revenue.
- Consoles 73% of revenue, PC/other 25%, handheld just 2%.
- 60% of revenue came from U.S, even with FQ4 and up from 47% a year ago.
- Borderlands 2, NBA 2K13, Grand Theft Auto IV, and BioShock Infinite were the biggest FQ1 revenue contributors.
- FQ2 results, PR
TTWO vs. ETF Alternatives
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.
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