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Take-Two Interactive Software posts adjusted revenue, EPS beat

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Take-Two Interactive Software reported quarterly earnings that outperformed expectations, with the company posting $814.3M in adjusted revenue and an adjusted EPS of $1.24, compared to consensus estimates of $752.6M in revenue and $.95 in EPS. Yahoo Finance’s Jared Blikre joined Yahoo Finance Live to break down the other key metrics.

Video Transcript

ADAM SHAPIRO: OK, everybody, hold on. We're gonna go to Jared because we have earnings from Take-Two Interactive Software, and the shares are selling off in the after hours.

JARED BLIKRE: Yeah, just slightly. And I've seen them positive, as well. And I got to say, the numbers, the key metrics are looking really good here, and I'll go through those now. So starting with third quarter results, adjusted revenue came in at 814.3 million. Estimate was for quite a bit lower, 752.6 million.

Digital online net bookings, a key metric for them, that comes in at 664.4 million, higher than the estimate for 631.6 million. Also beating out on physical retail and other net bookings. And their adjusted EPS came in at $1.24, and that's versus estimates of $0.95.

Now, they also had a pretty rosy year-long forecast as well for-- excuse me, 2021. They're seeing adjusted revenue of 3.37 to 3.42 billion. That is well ahead of the estimates of Wall Street, that midpoint coming in at 3.28 billion. They're also seeing adjusted EPS for the full year at $6.05 to $6.15, and that is much higher than the estimate for 5.67.

And then, finally, for their fourth quarter forecast they are seeing adjusted EPS $0.52 to $0.61, sense when the estimate was for lower, at $0.43. So let's take a look at some charts here. Still down after hours, about 1.5%. We'll dig into the report and also listen on the call to see what comes of it.

But over the last year, definitely looking at a COVID play. Up about 89, 90% over that period. And you got to think the comps are gonna be a little bit difficult this year, so maybe that's what's the invest-- entering investors' minds right now, as a share is still down about 1.8%. Guys.

ADAM SHAPIRO: All right, Jared. Thank you very much.