Take-Two Interactive Software Inc. shares rose more than 6% in the extended session Monday following a brief halt, after reporting quarterly revenue that topped consensus estimates.
The videogame maker reported fiscal first-quarter net income of $46.3 million, or 41 cents a share, compared with $71.7 million, or 62 cents a share, in the year-ago period. Take-Two did not provide an adjusted earnings figure but sent out instructions to reporters on how to calculate it. Revenue rose to $540.5 million from $388 million in the year-ago period.
Bookings grew 46% to $422.2 million.
Analysts surveyed by FactSet had estimated Take-Two’s TTWO, -5.19% adjusted earnings of 4 cents a share on bookings of $357 million.
Several large videogame companies, such as Electronic Arts Inc. EA, -4.63% and Activision Blizzard Inc. ATVI, -5.96% , use bookings instead of revenue in order to capture online sales and revenue generated by selling physical units of the games they make.
For the fiscal second quarter, analysts expect adjusted earnings of $1.71 a share on sales of $852 million.
The company said it was raising its fiscal 2020 outlook to earnings of $1.04 to $1.14 a share on sales of $855 million to $905 million. It said it expects bookings of $860 million to $910 million.
Take-Two stock slumped in regular trading Monday but has gained 12.4% this year, with the S&P 500 index SPX, -2.98% rising 17%.
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