We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
TakeTwo Interactive Software Inc | NASDAQ:TTWO | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.07 | -0.05% | 142.74 | 142.74 | 143.49 | 145.12 | 141.5274 | 142.22 | 1,164,552 | 00:57:05 |
Non-GAAP Net Revenue was $486.8 Million
Non-GAAP Net Income was $0.89 Per Diluted Share
Raises Financial Outlook for Fiscal 2016
Take-Two Interactive Software, Inc. (NASDAQ:TTWO) today reported stronger-than-expected financial results for fiscal third quarter 2016, ended December 31, 2015. In addition, the Company increased its financial outlook for the fiscal year ending March 31, 2016, and provided its initial financial outlook for the fiscal fourth quarter 2016, ending March 31, 2016.
GAAP Financial Results
For fiscal third quarter 2016, GAAP net revenue was $414.2 million, as compared to $531.1 million for fiscal third quarter 2015. GAAP net loss was $42.4 million, or $0.51 per diluted share, as compared to net income of $40.1 million, or $0.42 per diluted share, for the year-ago period. GAAP net loss for fiscal third quarter 2016 reflects business reorganization charges of $71.2 million, partially offset by approximately $25 million in tax benefits related to video game development costs.
During fiscal third quarter 2016, the Company’s cash and short-term investments balance increased to $1.215 billion as of December 31, 2015.
Non-GAAP Financial Results
For fiscal third quarter 2016, Non-GAAP net revenue was $486.8 million, as compared to $954.0 million for the year-ago period, which had benefited from the launches of Grand Theft Auto V® for PlayStation®4 and Xbox One, Borderlands®: The Pre-Sequel, and Sid Meier’s Civilization®: Beyond Earth. Non-GAAP net income was $99.7 million, or $0.89 per diluted share, as compared to $211.6 million, or $1.87 per diluted share, for the year-ago period. Non-GAAP net income for fiscal third quarter 2016 reflects approximately $32 million in tax benefits related to video game development costs.
The largest contributors to Non-GAAP net revenue in fiscal third quarter 2016 were Grand Theft Auto V and Grand Theft Auto Online, NBA® 2K16, WWE® 2K16, and the Borderlands series. Non-GAAP net revenue from digitally-delivered content was $213.6 million and accounted for 44% of total Non-GAAP net revenue. The largest contributors to Non-GAAP net revenue from digitally-delivered content were the Grand Theft Auto, NBA 2K, WWE 2K, and Sid Meier’s Civilization series. Revenue from recurrent consumer spending (virtual currency, downloadable add-on content and online games) grew 45% year-over-year and accounted for 54% of Non-GAAP net revenue from digitally-delivered content, or 24% of total Non-GAAP net revenue. Catalog sales accounted for $235.3 million of Non-GAAP net revenue led by the Grand Theft Auto and Borderlands series.
Management Comments
“During the holiday season, Take-Two enjoyed immense consumer demand for its recent releases and catalog, enabling the Company to deliver another quarter of strong revenue, Non-GAAP earnings and cash flow,” said Strauss Zelnick, Chairman and CEO of Take-Two. “These outstanding results were driven by robust sales of Grand Theft Auto V, NBA 2K16 and WWE 2K16, along with our highest-ever revenue from recurrent consumer spending.
“As a result of our third quarter outperformance and solid forecast for the balance of the year, we are once again raising our financial outlook for fiscal 2016, which is poised to be another year of meaningful profits for Take-Two. Looking ahead, we have an extensive development pipeline that positions our Company for revenue growth and margin expansion over the long-term. We are excited about this Friday’s release of XCOM 2, which has received stellar early review scores, and anticipation already is building for the fiscal 2017 launches of Battleborn and Mafia III.”
Business and Product Highlights
Since October 1, 2015:
Rockstar Games:
2K:
Financial Outlook for Fiscal 2016
Take-Two is increasing its financial outlook for fiscal year 2016 to reflect its better-than-expected fiscal third quarter results and strong forecast for the balance of the fiscal year. In addition, the Company is providing its initial financial outlook for the fiscal fourth quarter ending March 31, 2016 as follows:
Fourth Quarter
Fiscal Year
Ending 3/31/2016
Ending 3/31/2016
Non-GAAP net revenue
$260 to $310 Million
$1.48 to $1.53 Billion
Non-GAAP net income per diluted share (1)
$0.15 to $0.25
$1.65 to $1.75
GAAP to Non-GAAP Reconciling Items (2):
Net effect from deferral in net revenues and related cost of goods sold
($0.67) $0.20Stock-based compensation expense (3)
$0.13 $0.50Business reorganization
$0.00 $0.51Non-cash amortization of discount on convertible notes
$0.04 $0.17Non-cash tax expense
$0.00 $0.00Gain on long-term investment, net
($0.02) ($0.02)
1)
For the fiscal fourth quarter and fiscal year ending March 31, 2016, our Non-GAAP net income per diluted share outlook is calculated using the “if-converted” method as a result of the issuances of our 1.75% Convertible Notes in November 2011 and 1.00% Convertible Notes in June 2013, and Non-GAAP diluted net income for the fourth quarter and fiscal year is adjusted by adding-back $1.4 million and $5.5 million, respectively, related to coupon interest and debt issuance costs, net of tax. Shares used to calculate our Non-GAAP net income per diluted share outlook are as follows:
Weighted average basic shares
83.5 Million
83.5 Million
Add: Weighted average participating shares
4.0 Million
4.0 Million
Add: Potential Dilution from convertible notes
26.5 Million
26.5 Million
Total weighted average diluted shares
114.0 Million
114.0 Million
2)
All GAAP to Non-GAAP reconciling items are net of tax and per share.
3)
The Company's stock-based compensation expense for the periods above includes the cost of approximately 1.1 million restricted stock units previously granted to ZelnickMedia that are subject to variable accounting. Actual expense to be recorded in connection with these shares is dependent upon several factors, including future changes in Take-Two's stock price.
Key assumptions and dependencies underlying the Company’s financial outlook include: the timely delivery of the titles included in this financial outlook; continued consumer acceptance of the Xbox One and PlayStation 4; the ability to develop and publish products that capture market share for these new-generation systems while continuing to leverage opportunities on the Xbox 360, PlayStation 3 and PC; and stable foreign exchange rates. See also “Cautionary Note Regarding Forward Looking Statements” below.
Product Releases
The following titles were released since October 1, 2015:
Label
Title
Platforms
Release Date
2KMy NBA2K16
iOS and Android October 1, 2015 2KNHL SuperCard
iOS and Android October 8, 2015 2KSid Meier’s Civilization Beyond Earth – Rising Tide (expansion pack)
PC October 9, 2015 2KNBA 2K16
iOS and Android October 15, 2015 2KWWE 2K16
Xbox 360, Xbox One, PS3, PS4 October 27, 2015* 2KWWE 2K16: Accelerator (DLC)
Xbox 360, Xbox One, PS3, PS4 October 27, 2015 2KWWE 2K16: MyPlayer Kickstart (DLC)
Xbox One, PS4 October 27, 2015 2KEvolve Ultimate Edition
Xbox One, PS4 November 3, 2015 2KBorderlands Triple Pack
Xbox 360, PS3 November 17, 2015 2KWWE 2K16: New Moves Pack (DLC)
Xbox 360, Xbox One, PS3, PS4 November 24, 2015 Rockstar GamesGrand Theft Auto: Liberty City Stories
iOS
December 17, 2015
2KWWE 2K16: Legends Pack (DLC)
Xbox 360, Xbox One, PS3, PS4 December 22, 2015 2KWWE 2K16: Future Stars Pack (DLC)
Xbox 360, Xbox One, PS3, PS4 January 26, 2016*North American release date; international release date followed three days after.
Take-Two's lineup of future titles announced to date includes:
Label
Title
Platforms
Release Date
2KXCOM 2
PC, Mac, Linux February 5, 2016 2KWWE 2K16: 2015 Hall of Fame Showcase (DLC)
Xbox 360, Xbox One, PS3, PS4 February 23, 2016 Rockstar GamesGrand Theft Auto: Liberty City Stories
Android February 2016 2KCivilization Revolution 2 Plus
PlayStation Vita Fiscal 4Q 2016 2KBattleborn
Xbox One, PS4, PC May 3, 2016 2KMafia III
Xbox One, PS4, PC Fiscal Year 2017Conference Call
Take-Two will host a conference call today at 4:30 p.m. Eastern Time to review these results and discuss other topics. The call can be accessed by dialing (877) 407-0984 or (201) 689-8577. A live listen-only webcast of the call will be available by visiting http://ir.take2games.com and a replay will be available following the call at the same location.
Non-GAAP Financial Measures
In addition to reporting financial results in accordance with U.S. generally accepted accounting principles (GAAP), the Company uses Non-GAAP measures of financial performance. The Company believes that these Non-GAAP financial measures, when taken into consideration with the corresponding GAAP financial measures, are important in gaining an understanding of the Company’s ongoing business. These Non-GAAP financial measures also provide for comparative results from period to period. Therefore, the Company believes it is appropriate to exclude the following Non-GAAP items, net of applicable taxes, as discussed below:
These Non-GAAP financial measures are not intended to be considered in isolation from, as a substitute for, or superior to, GAAP results. These Non-GAAP financial measures may be different from similarly titled measures used by other companies. In the future, Take-Two may also consider whether other items should also be excluded in calculating the Non-GAAP financial measures used by the Company. Management believes that the presentation of these Non-GAAP financial measures provides investors with additional useful information to measure Take-Two's financial and operating performance. In particular, the measures facilitate comparison of operating performance between periods and help investors to better understand the operating results of Take-Two by excluding certain items that may not be indicative of the Company's core business, operating results or future outlook. Internally, management may use these Non-GAAP financial measures in assessing the company's operating results and in planning and forecasting. In addition to the Non-GAAP financial measures provided in this press release, see the Company’s website for additional information regarding our non-GAAP results.
Final Results
The financial results discussed herein are presented on a preliminary basis; final data will be included in Take-Two’s Quarterly Report on Form 10-Q for the period ended December 31, 2015.
About Take-Two Interactive Software
Headquartered in New York City, Take-Two Interactive Software, Inc. is a leading developer, publisher and marketer of interactive entertainment for consumers around the globe. The Company develops and publishes products through its two wholly-owned labels Rockstar Games and 2K. Our products are designed for console systems and personal computers, including smartphones and tablets, and are delivered through physical retail, digital download, online platforms and cloud streaming services. The Company’s common stock is publicly traded on NASDAQ under the symbol TTWO. For more corporate and product information please visit our website at http://www.take2games.com.
All trademarks and copyrights contained herein are the property of their respective holders.
Cautionary Note Regarding Forward-Looking Statements
The statements contained herein which are not historical facts are considered forward-looking statements under federal securities laws and may be identified by words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "potential," "predicts," "projects," "seeks," "will," or words of similar meaning and include, but are not limited to, statements regarding the outlook for the Company's future business and financial performance. Such forward-looking statements are based on the current beliefs of our management as well as assumptions made by and information currently available to them, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may vary materially from these forward-looking statements based on a variety of risks and uncertainties including: our dependence on key management and product development personnel, our dependence on our Grand Theft Auto products and our ability to develop other hit titles, the timely release and significant market acceptance of our games, the ability to maintain acceptable pricing levels on our games, our ability to raise capital if needed and risks associated with international operations. Other important factors and information are contained in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2015, including the risks summarized in the section entitled "Risk Factors," the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2015, and the Company's other periodic filings with the SEC, which can be accessed at www.take2games.com. All forward-looking statements are qualified by these cautionary statements and apply only as of the date they are made. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (in thousands, except per share amounts) Three months ended December 31, Nine months ended December 31, 2015 2014 2015 2014 Net revenue $ 414,221 $ 531,147 $ 1,036,492 $ 782,849 Cost of goods sold: Internal royalties 95,311 14,099 256,058 34,810 Software development costs and royalties 61,653 108,214 152,160 144,863 Product costs 74,934 102,068 153,652 139,421 Licenses 25,963 53,632 42,546 65,091 Total cost of goods sold 257,861 278,013 604,416 384,185 Gross profit 156,360 253,134 432,076 398,664 Selling and marketing 59,846 96,892 160,289 182,874 General and administrative 49,061 53,564 148,057 136,891 Research and development 27,944 31,221 86,499 79,886 Business reorganization 71,172 - 71,172 - Depreciation and amortization 7,534 5,845 21,462 15,123 Total operating expenses 215,557 187,522 487,479 414,774 (Loss) income from operations (59,197 ) 65,612 (55,403 ) (16,110 ) Interest and other, net (8,018 ) (9,458 ) (23,948 ) (24,689 ) (Loss) gain on long-term investments, net - (1,500 ) - 17,476 (Loss) income from operations before income taxes (67,215 ) 54,654 (79,351 ) (23,323 ) Provision for (benefit from) for income taxes (24,802 ) 14,561 (24,650 ) 13,356 Net (loss) income $ (42,413 ) $ 40,093 $ (54,701 ) $ (36,679 ) (Loss) earnings per share: Basic (loss) earnings per share $ (0.51 ) $ 0.46 $ (0.66 ) $ (0.46 ) Diluted (loss) earnings per share $ (0.51 ) $ 0.42 (0.66 ) $ (0.46 ) Weighted average shares outstanding: Basic 83,426 87,483 83,338 80,128 Diluted 83,426 113,938 83,338 80,128 Computation of Basic EPS: Net (loss) income $ (42,413 ) $ 40,093 $ (54,701 ) $ (36,679 ) Less: net income allocated to participating securities - (3,127 ) - - Net (loss) income for basic EPS calculation $ (42,413 ) $ 36,966 $ (54,701 ) $ (36,679 ) Weighted average shares outstanding - basic 83,426 87,483 $ 83,338 80,128 Less: weighted average participating shares outstanding - (6,824 ) - - Weighted average common shares outstanding - basic 83,426 80,659 $ 83,338 80,128 Basic EPS $ (0.51 ) $ 0.46 $ (0.66 ) $ (0.46 ) Computation of Diluted EPS: Net (loss) income $ (42,413 ) $ 40,093 $ (54,701 ) $ (36,679 ) Less: net income allocated to participating securities - (2,401 ) - - Add: interest expense, net of tax, on Convertible Notes - 7,199 - - Net (loss) income for diluted EPS calculation $ (42,413 ) $ 44,891 $ (54,701 ) $ (36,679 ) Weighted average common shares outstanding - basic 83,426 80,659 83,338 80,128 Add: dilutive effect of common stock equivalents - 26,455 - - Total weighted average shares outstanding - diluted 83,426 107,114 83,338 80,128 Diluted EPS $ (0.51 ) $ 0.42 $ (0.66 ) $ (0.46 ) TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in thousands, except per share amounts) December 31,March 31,
2015 2015 ASSETS (Unaudited) Current assets: Cash and cash equivalents $ 835,241 $ 911,120 Short-term investments 379,440 186,929 Restricted cash 204,089 169,678 Accounts receivable, net of allowances of $70,995 and $70,471 at December 31, 2015 and March 31, 2015, respectively 263,690 217,860 Inventory 20,207 20,051 Software development costs and licenses 214,540 163,385 Deferred cost of goods sold 128,972 56,779 Prepaid expenses and other 60,129 54,057 Total current assets 2,106,308 1,779,859 Fixed assets, net 76,661 69,792 Software development costs and licenses, net of current portion 167,382 124,329 Deferred cost of goods sold, net of current portion 1,742 19,869 Goodwill 216,777 217,288 Other intangibles, net 4,609 4,769 Other assets 11,530 12,167 Total assets $ 2,585,009 $ 2,228,073 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 59,603 $ 38,789 Accrued expenses and other current liabilities 603,613 444,738 Deferred revenue 791,758 482,733 Total current liabilities 1,454,974 966,260 Long-term debt 491,576 473,030 Non-current deferred revenue 39,885 164,618 Other long-term liabilities 71,600 61,077 Total liabilities 2,058,035 1,664,985 Commitments and contingencies Stockholders' equity: Preferred stock, $.01 par value, 5,000 shares authorized - - Common stock, $.01 par value, 200,000 shares authorized; 104,373 and 104,594 shares issued and 87,181 and 88,356 outstanding at December 31, 2015 and March 31, 2015, respectively 1,044 1,046 Additional paid-in capital 1,077,449 1,028,197 Treasury stock, at cost; 17,192 and 16,238 common shares at December 31, 2015 and March 31, 2015, respectively (303,388 ) (276,836 ) Accumulated deficit (213,396 ) (158,695 ) Accumulated other comprehensive loss (34,735 ) (30,624 ) Total stockholders' equity 526,974 563,088 Total liabilities and stockholders' equity $ 2,585,009 $ 2,228,073 TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (in thousands) Nine months ended December 31, 2015 2014 Operating activities: Net loss $ (54,701 ) $ (36,679 ) Adjustments to reconcile net loss to net cash provided by operating activities: Amortization and impairment of software development costs and licenses 83,056 89,768 Depreciation and amortization 21,462 15,123 Amortization and impairment of intellectual property 160 320 Stock-based compensation 54,144 52,474 Deferred income taxes - 641 Amortization of discount on Convertible Notes 17,454 16,389 Amortization of debt issuance costs 1,181 1,260Gain on long-term investments, net
- (17,476 ) Other, net 2,573 2,262 Changes in assets and liabilities: Restricted cash (34,411 ) 162,538 Accounts receivable (46,227 ) (382,566 ) Inventory (374 ) 5,163 Software development costs and licenses (170,074 ) (155,454 ) Prepaid expenses, other current and other non-current assets (6,514 ) (52,092 ) Deferred revenue 184,955 456,623 Deferred cost of goods sold (54,418 ) (63,203 ) Accounts payable, accrued expenses and other liabilities 190,557 (34,565 ) Net cash provided by operating activities 188,823 60,526 Investing activities: Change in bank time deposits (189,564 ) - Purchase of fixed assets (28,579 ) (36,579 ) Sale and maturities of available-for-sale securities 19,014 - Purchase of available-for-sale securities (25,768 ) (79,677 ) Cash received from the sale of long-term investment - 21,976 Purchase of long-term investment - (5,000 ) Net cash used in investing activities (224,897 ) (99,280 ) Financing activities: Excess tax benefit from stock-based compensation 1,509 10,352 Tax payment related to net share settlements on restricted stock awards (14,506 ) - Repurchase of common stock (26,552 ) - Net cash provided by (used in) financing activities (39,549 ) 10,352 Effects of foreign exchange rates on cash and cash equivalents (256 ) (9,546 ) Net decrease in cash and cash equivalents (75,879 ) (37,948 ) Cash and cash equivalents, beginning of year 911,120 935,400 Cash and cash equivalents, end of period $ 835,241 $ 897,452 TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES RECONCILIATION OF GAAP TO Non-GAAP MEASURES (Unaudited) (in thousands, except per share amounts) Three months ended December 31, Nine months ended December 31, 2015 2014 2015 2014 Net Revenues GAAP Net Revenues $ 414,221 $ 531,147 $ 1,036,492 $ 782,849 Net effect from deferral in net revenues 72,570 422,829 181,622 458,180 Non-GAAP Net Revenues $ 486,791 $ 953,976 1,218,114 $ 1,241,029 Digital Online Revenues (included in Net Revenues above) GAAP Digital Online Revenues $ 146,449 $ 149,840 $ 502,860 $ 310,687 Net effect from deferral in digital online revenues 67,170 67,404 105,734 102,755 Non-GAAP Digital Online Revenues $ 213,619 $ 217,244 $ 608,594 $ 413,442 Gross Profit GAAP Gross Profit $ 156,360 $ 253,134 $ 432,076 $ 398,664 Net effect from deferral in net revenues and related cost of goods sold 57,684 174,390 117,574 193,539 Stock-based compensation 4,131 8,323 12,935 11,062 Non-GAAP Gross Profit 218,175 $ 435,847 $ 562,585 $ 603,265 (Loss) income from Operations GAAP (Loss) Income from Operations $ (59,197 ) $ 65,612 $ (55,403 ) $ (16,110 ) Net effect from deferral in net revenues and related cost of goods sold 57,684 174,390 117,574 193,539 Stock-based compensation 18,738 28,628 54,144 52,474 Impact of business reorganization 71,172 - 72,400 195 Non-GAAP Income from Operations $ 88,397 $ 268,630 $ 188,715 $ 230,098 Net Income (Loss) GAAP Net Income (Loss) $ (42,413 ) $ 40,093 $ (54,701 ) $ (36,679 ) Net effect from deferral in net revenues and related cost of goods sold 53,993 158,030 101,899 172,195 Stock-based compensation 12,388 7,015 34,952 24,756Loss (gain) on long-term investments, net
- 941 - (9,999 ) Impact of business reorganization 71,627 - 72,400 156 Non-cash amortization of discount on Convertible Notes 3,719 5,062 10,982 13,127 Non-cash tax expense 361 459 1,051 1,404 Non-GAAP Net Income $ 99,675 $ 211,600 $ 166,583 $ 164,960 Diluted (Loss) Earnings Per Share GAAP (loss) earnings per share $ (0.51 ) $ 0.42 $ (0.66 ) $ (0.46 ) Non-GAAP earnings per share $ 0.89 $ 1.87 $ 1.50 $ 1.50 Number of diluted shares used in computation GAAP 83,426 113,938 83,338 80,128 Non-GAAP 113,290 113,938 113,952 113,922 Computation of Diluted GAAP EPS: Net (loss) income $ (42,413 ) $ 40,093 $ (54,701 ) $ (36,679 ) Less: net income allocated to participating securities - (2,401 ) - - Add: interest expense, net of tax, on Convertible Notes - 7,199 - - Net (loss) income for diluted EPS calculation $ (42,413 ) $ 44,891 $ (54,701 ) $ (36,679 ) Weighted average shares outstanding - basic 83,426 87,483 83,338 80,128 Add: dilutive effect of common stock equivalents - 26,455 - - Total weighted average shares outstanding - diluted 83,426 113,938 83,338 80,128 Less: weighted average participating shares outstanding - (6,824 ) - - Weighted average common shares outstanding - diluted 83,426 107,114 83,338 80,128 Diluted (loss) earnings per share $ (0.51 ) $ 0.42 $ (0.66 ) $ (0.46 ) Computation of Diluted Non-GAAP EPS: Non-GAAP net income $ 99,675 $ 211,600 $ 166,583 $ 164,960 Less: net income allocated to participating securities (2,999 ) (12,673 ) (6,080 ) (10,627 ) Add: interest expense, net of tax, on Convertible Notes 1,367 1,686 4,109 5,069 Net income for diluted earnings per share calculation $ 98,043 $ 200,613 $ 164,612 $ 159,402 Weighted average shares outstanding - basic 86,835 87,483 87,497 87,467 Add: dilutive effect of common stock equivalents 26,455 26,455 26,455 26,455 Total weighted average shares outstanding - diluted 113,290 113,938 113,952 113,922 Less: weighted average participating shares outstanding (3,409 ) (6,824 ) (4,159 ) (7,339 ) Weighted average common shares outstanding - diluted 109,881 107,114 109,793 106,583 Diluted earnings per share $ 0.89 $ 1.87 $ 1.50 $ 1.50 TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES Net Revenue by Geographic Region, Distribution Channel, and Platform Mix (in thousands)Three Months Ended
December 31, 2015
Three Months Ended
December 31, 2014
Amount % of Total Amount % of Total GAAP Net Revenues by Geographic Region United States $ 218,386 53 % $ 334,257 63 % International 195,835 47 % 196,890 37 % Total GAAP net revenues 414,221 100 % 531,147 100 % Change in Deferred Net Revenues United States $ 63,314 $ 188,238 International 9,256 234,591 Total changes in deferred net revenues 72,570 422,829 Non-GAAP Net Revenues by Geographic Region United States $ 281,700 58 % $ 522,495 55 % International 205,091 42 % 431,481 45 % Total non-GAAP net revenues $ 486,791 100 % $ 953,976 100 %Three Months Ended
December 31, 2015
Three Months Ended
December 31, 2014
Amount % of Total Amount % of Total GAAP Net Revenues by Distribution Channel Physical retail and other $ 267,772 65 % $ 381,307 72 % Digital online 146,449 35 % 149,840 28 % Total GAAP net revenues 414,221 100 % 531,147 100 % Change in Deferred Net Revenues Physical retail and other $ 5,400 $ 355,425 Digital online 67,170 67,404 Total changes in deferred net revenues 72,570 422,829 Non-GAAP Net Revenues by Distribution Channel Physical retail and other $ 273,172 56 % $ 736,732 77 % Digital online 213,619 44 % 217,244 23 % Total non-GAAP net revenues $ 486,791 100 % $ 953,976 100 %Three Months Ended
December 31, 2015
Three Months Ended
December 31, 2014
Amount % of Total Amount % of Total GAAP Net Revenues by Platform Mix Console $ 355,235 86 % $ 443,093 83 % PC and other 58,986 14 % 88,054 17 % Total GAAP net revenues 414,221 100 % 531,147 100 % Change in Deferred Net Revenues Console $ 64,623 $ 419,303 PC and other 7,947 3,526 Total changes in deferred net revenues 72,570 422,829 Non-GAAP Net Revenues by Platform Mix Console $ 419,858 86 % $ 862,396 90 % PC and other 66,933 14 % 91,580 10 % Total non-GAAP net revenues $ 486,791 100 % $ 953,976 100 % TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES Net Revenue by Geographic Region, Distribution Channel, and Platform Mix (in thousands)Nine Months Ended
December 31, 2015
Nine Months Ended
December 31, 2014
Amount % of Total Amount % of Total GAAP Net Revenues by Geographic Region United States $ 546,926 53 % $ 458,423 59 % International 489,566 47 % 324,426 41 % Total GAAP net revenues 1,036,492 100 % 782,849 100 % Change in Deferred Net Revenues United States $ 101,929 $ 207,408 International 79,693 250,772 Total changes in deferred net revenues 181,622 458,180 Non-GAAP Net Revenues by Geographic Region United States $ 648,855 53 % $ 665,831 54 % International 569,259 47 % 575,198 46 % Total non-GAAP net revenues $ 1,218,114 100 % $ 1,241,029 100 % Nine Months EndedDecember 31, 2015
Nine Months Ended
December 31, 2014
Amount % of Total Amount % of Total GAAP Net Revenues by Distribution Channel Physical retail and other $ 533,632 51 % $ 472,162 60 % Digital online 502,860 49 % 310,687 40 % Total GAAP net revenues 1,036,492 100 % 782,849 100 % Change in Deferred Net Revenues Physical retail and other $ 75,888 $ 355,425 Digital online 105,734 102,755 Total changes in deferred net revenues 181,622 458,180 Non-GAAP Net Revenues by Distribution Channel Physical retail and other $ 609,520 50 % $ 827,587 67 % Digital online 608,594 50 % 413,442 33 % Total non-GAAP net revenues $ 1,218,114 100 % $ 1,241,029 100 % Nine Months EndedDecember 31, 2015
Nine Months Ended
December 31, 2014
Amount % of Total Amount % of Total GAAP Net Revenues by Platform Mix Console $ 878,838 85 % $ 620,547 79 % PC and other 157,654 15 % 162,302 21 % Total GAAP net revenues 1,036,492 100 % 782,849 100 % Change in Deferred Net Revenues Console $ 42,940 $ 450,623 PC and other 138,682 7,557 Total changes in deferred net revenues 181,622 458,180 Non-GAAP Net Revenues by Platform Mix Console $ 921,778 76 % $ 1,071,170 86 % PC and other 296,336 24 % 169,859 14 % Total non-GAAP net revenues $ 1,218,114 100 % $ 1,241,029 100 %
View source version on businesswire.com: http://www.businesswire.com/news/home/20160203006463/en/
Take-Two Interactive Software, Inc.Investor Relations:Henry A. Diamond, 646-536-3005Senior Vice PresidentInvestor Relations & Corporate CommunicationsHenry.Diamond@take2games.comorCorporate Press:Alan Lewis, 646-536-2983Vice PresidentCorporate Communications & Public AffairsAlan.Lewis@take2games.com
1 Year TakeTwo Interactive Soft... Chart |
1 Month TakeTwo Interactive Soft... Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions