Press release
Take-Two Interactive Software, Inc. Reports Strong Results for Fiscal Year 2020
GAAP Net revenue grew 16% to $3.089 billion GAAP Net income increased 21% to $3.54 per diluted share GAAP net cash provided by operating activities was
About this update from Take-two Interactive Software, Inc.
[{"type":"text","content":"\nGAAP Net revenue grew 16% to $3.089 billion\n\n\nGAAP Net income increased 21% to $3.54 per diluted share\n\n\nGAAP net cash provided by operating activities was $685.7 million\n\n\nAdjusted Unrestricted Operating Cash Flow (Non-GAAP) was $615.4 million\n\n\nNet Bookings grew to $2.990 billion\n\n NEW YORK--(BUSINESS WIRE)--\nTake-Two Interactive Software, Inc. (NASDAQ:TTWO) today reported strong results for its fourth quarter and fiscal year 2020, ended March 31, 2020, and provided its initial outlook for its fiscal first quarter 2021, ending June 30, 2020, and fiscal year 2021, ending March 31, 2021.\n\n\nFiscal Fourth Quarter 2020 Financial Highlights\n\n\nGAAP net revenue grew 41% to $760.5 million, as compared to $539.0 million in last year’s fiscal fourth quarter. Recurrent consumer spending (which is generated from ongoing consumer engagement and includes virtual currency, add-on content and in-game purchases) increased 40% and accounted for 54% of total GAAP net revenue. The largest contributors to GAAP net revenue in fiscal fourth quarter 2020 were NBA® 2K20 and NBA 2K19, Grand Theft Auto® Online and Grand Theft Auto V, Red Dead Redemption 2 and Red Dead Online, Borderlands 3, Sid Meier’s Civilization® VI, Social Point’s mobile games, and WWE® SuperCard and WWE 2K20.\n\n\nDigitally-delivered GAAP net revenue grew 54% to $634.7 million, as compared to $413.5 million in last year’s fiscal fourth quarter, and accounted for 83% of total GAAP net revenue. The largest contributors to digitally-delivered GAAP net revenue in fiscal fourth quarter 2020 were Grand Theft Auto Online and Grand Theft Auto V, NBA 2K20 and NBA 2K19, Red Dead Redemption 2 and Red Dead Online, Borderlands 3, Sid Meier’s Civilization VI, Social Point’s mobile games, and WWE SuperCard and WWE 2K20.\n\n\nGAAP net income grew 116% to $122.7 million, or $1.07 per diluted share, as compared to $56.8 million, or $0.50 per diluted share, for the year-ago period.\n\n\nThe following data, together with a management reporting tax rate of 17%, are used internally by the Company’s management and Board of Directors to adjust the Company’s GAAP financial results in order to facilitate comparison of its operating performance between periods and to better understand its core business and future outlook:\n\n\n\n\n\n\nThree Months Ended March 31, 2020\n\n\n\n\n\n \n\n\n...