Stock Monitor: Sea Ltd Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 06, 2018 / Active-Investors.com has just released a free earnings report on Take-Two Interactive Software, Inc. (NASDAQ: TTWO) ("Take-Two"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=TTWO. Take-Two Interactive reported its third quarter fiscal 2018 operating and financial results on February 06, 2018. The gaming Company's revenue grew on a y-o-y basis. In addition, the Company provided its initial financial outlook for Q4 FY18 and updated its financial outlook for its fiscal year ending March 31, 2018. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Take-Two Interactive Software most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
Take-Two's net revenue grew to $480.8 million compared to $476.5 million in Q3 FY17. The Company's revenue fell short of analysts' estimates of $493 million.
During Q3 FY18, Take-Two's recurrent consumer spending (virtual currency, add-on content and microtransactions) grew 64% on a y-o-y basis and accounted for 32% of total net revenue for the reported quarter.
For Q3 FY18, Take-Two's digitally-delivered net revenue grew 8% to $258.4 million compared to $240.2 million in Q3 FY17, and accounted for 54% of total net revenue. The largest contributors to digitally-delivered net revenue in the reported quarter were Grand Theft Auto Online and Grand Theft Auto V, NBA 2K18, WWE 2K18, and WWE SuperCard, and Sid Meier's Civilization VI.
Take-Two's net income increased to $25.1 million, or $0.21 per diluted share, for Q3 FY18 compared to net loss of $29.8 million, or $0.33 per diluted share, for Q3 FY17. The Company's net income reflected $11.9 million of incremental income tax expense, or approximately $0.10 per diluted share, for the reported quarter due to the application of the Tax Cuts and Jobs Act, enacted on December 22, 2017. Take-Two's earnings beat Wall Street's estimates for a loss of $0.10 per share.
During Q3 FY18, Take-Two's total Net Bookings were $653.9 million compared to $744.8 million during Q3 FY17, which had benefitted from the launches of Mafia III and Sid Meier's Civilization VI. The Company's Net Bookings from recurrent consumer spending grew 44% on a y-o-y basis and accounted for 40% of total Net Bookings. Catalog accounted for $343.5 million of Net Bookings led by Grand Theft Auto, and Dragon City and Monster Legends in the reported quarter.
For Q3 FY18, Take-Two's digitally-delivered Net Bookings grew 6% to $379.7 million compared to $357.4 million in Q3 FY17, and accounted for 58% of total Net Bookings.
Take-Two's net cash provided by operating activities was $204.09 million for the nine months ended December 31, 2017, compared to $239.60 million for the year ago corresponding period. As of December 31, 2017, the Company had cash and short-term investments of $1.322 billion.
For the fourth quarter ending March 31, 2018, Take-Two is forecasting GAAP net revenue in the range of $460 million to $510 million. The Company's GAAP net income is estimated to be in the band of $87 million to $99 million, or $0.73 to $0.83 per diluted share, for the upcoming quarter. Take-Two is estimating Net Bookings to range from $410 million to $460 million
As a result of its strong Q3 FY18 results and increased outlook for the fiscal fourth quarter, Take-Two raised its fiscal year 2018 outlook for Net Bookings. In addition, the Company is increasing its outlook for GAAP net revenue and GAAP net income.
For FY18, Take-Two is forecasting GAAP net revenue to range from $1.80 billion to $1.85 billion. The Company is expecting GAAP net income to range from $170 million to $181 million and GAAP diluted net income per share is expected to range from $1.50 to $1.60.
For FY18, Take-Two is anticipating net cash provided by operating activities is expected to be approximately $300 million and capital expenditures to be approximately $60 million. The Company's Net Bookings for FY18 are expected to range from $1.99 billion to $2.04 billion.
Stock Performance Snapshot
March 05, 2018 - At Monday's closing bell, Take-Two Interactive Software's stock advanced 1.05%, ending the trading session at $111.93.
Volume traded for the day: 1.39 million shares.
Stock performance in the last three-month – up 0.34%; previous six-month period – up 14.46%; past twelve-month period – up 92.58%; and year-to-date – up 1.96%
After yesterday's close, Take-Two Interactive Software's market cap was at $12.73 billion.
Price to Earnings (P/E) ratio was at 69.31.
The stock is part of the Technology sector, categorized under the Multimedia & Graphics Software industry. This sector was up 1.0% at the end of the session.
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