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|FOR IMMEDIATE RELEASE|
|(Investor Relations)||(Corporate Press)|
|Henry A. Diamond||Alan Lewis|
|Senior Vice President||Vice President|
|Investor Relations & Corporate Communications||Corporate Communications & Public Affairs|
|Take-Two Interactive Software, Inc.||Take-Two Interactive Software, Inc.|
|(646) 536-3005||(646) 536-2983|
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 $685.7 million
Adjusted Unrestricted Operating Cash Flow (Non-GAAP) was $615.4 million
Net Bookings grew to $2.990 billion
New York, NY – May 20, 2020 – Take-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.
Fiscal Fourth Quarter 2020 Financial Highlights
GAAP 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.
Digitally-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.
GAAP 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.
The following information was filed by Take Two Interactive Software Inc (TTWO) on Wednesday, May 20, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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