Take-Two Interactive Earnings: TTWO Stock Falls 5% After Beating Q4 Estimates

Take-Two Interactive (NASDAQ:TTWO) earnings for fiscal fourth quarter of 2020 have TTWO stock down after-hours Wednesday. That comes after reporting diluted earnings per share (EPS) of $1.07 on revenue of $760.54 million. These both come in above Wall Street’s estimates of 89 cents per share and revenue of $582.22 million.

Take-Two Interactive Earnings: TTWO Stock Unmoving After Beating Q4 Estimates

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Let’s take a look at some additional highlights from the most recent Take-Two Interactive earnings report below.

  • Diluted per-share earnings are up 114% from 50 cents in the fiscal fourth quarter of 2019.
  • Revenue for the quarter comes in 41.1% higher than the $539.01 million reported during the same time last year.
  • Operating income of $121.88 million is a 109.9% increase year-over-year from $58.06 million.
  • The Take-Two Interactive earnings report also has it bringing in a net income of $122.72 million.
  • That’s a 115.9% jump compared to its net income of $56.83 million in the same period of the year prior.

Strauss Zelnick, chairman and CEO of Take-Two Interactive, said this in the Q4 earnings report:

“Our significantly better-than-expected fourth quarter results concluded another extraordinary year for Take-Two, during which we achieved numerous milestones, including record Net Bookings of nearly $3 billion, as well as record digitally-delivered Net Bookings, Net Bookings from recurrent consumer spending, and earnings.”

Take-Two Interactive also includes an outlook for fiscal 2021 in the current earnings report. It expects diluted EPS of $2.60 to $2.85 on revenue of $2.63 billion to $2.73 billion. Wall Street is looking for diluted EPS of $4.34 on revenue of $2.69 billion for the year.

TTWO stock was down 4.6% after markets closed Wednesday.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/05/take-two-interactive-earnings-beat-estimates-ttwo-stock/.

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