Take-Two bookings up 19%; light forward guidance (updated)

|About: Take-Two Interactive Softw... (TTWO)|By:, SA News Editor

Take-Two Interactive Software (NASDAQ:TTWO) posted some solid growth in its Q4 top line, along with some light guidance ahead as the company faces tough comparables with last year's Red Dead Redemption 2.

Net bookings grew 19% to $488.4M. Catalog made up $254.5M of the bookings, led by Grand Theft Auto, Sid Meier’s Civilization VI, and Dragon City and Monster Legends.

Of that, bookings from recurrent consumer spending grew 27%, and made up 62% of the total.

Meanwhile, net income fell to $56.8M from a year-ago $90.85M.

For Q1, it's guiding to bookings of $310M-$360M (light of expected $421.2M) and GAAP EPS of $0.65-$0.75. For the full year, it sees net bookings of $2.5B-$2.6B (on the low side of consensus for $2.78B) and GAAP EPS of $3.39-$3.65. Adjusted operating cash flow is seen at $450M-plus.

The full year logged record bookings and adjusted operating cash flow, CEO Strauss Zelnick notes. "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."

Shares were halted just after the close and will resume trading at 4:25 p.m.

Updated 4:27 p.m. ET: Shares have resumed trading from their halt, down 5.9% after hours.

Conference call to come at 4:30 p.m. ET.

Previously: Take-Two Interactive Software misses by $0.23, misses on net bookings (May. 13 2019)

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