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Take-Two Interactive Updates FY18 Outlook - Quick Facts

Take-Two Interactive Software, Inc. (TTWO) announced, as a result of its strong fiscal third quarter 2018 results and increased outlook for the fiscal fourth quarter, the company increased fiscal 2018 outlook for Net Bookings. The company also increased its outlook for GAAP net revenue and GAAP net income. GAAP net revenue is now expected to range from $1.80 to $1.85 billion. Net Bookings (operational metric) are expected to range from $1.99 to $2.04 billion. GAAP net income is expected to range from $170 to $181 million, and GAAP net income per share is expected to range from $1.50 to $1.60.

For the fourth quarter ending March 31, 2018, the company expects: GAAP net revenue to range from $460 to $510 million, net bookings (operational metric) to range from $410 to $460 million; GAAP net income to range from $87 to $99 million; and net income per share to range from $0.73 to $0.83.

During fiscal third quarter 2018, total net bookings were $653.9 million, as compared to $744.8 million during last year's fiscal third quarter, which had benefitted from the launches of Mafia III and Sid Meier's Civilization VI. Net revenue grew to $480.8 million, as compared to $476.5 million in last year's fiscal third quarter. Net income was $25.1 million, or $0.21 per share, as compared to a net loss of $29.8 million, or $0.33 per share, for the comparable period last year. The company noted that its net income reflects $11.9 million of incremental income tax expense, or approximately $0.10 per share, due to the application of the Tax Cuts and Jobs Act, enacted on December 22, 2017.

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