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Take-Two Interactive Software Inc TTWO

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Take-Two Reports Strong End to Fiscal 2020; Weak Fiscal 2021 Guidance Due to Light Release Slate

Neil Macker, CFA Senior Analyst

Analyst Note

| Neil Macker, CFA |

Take-Two ended its fiscal 2020 on a strong note as fourth-quarter revenue and EBITDA beat FactSet consensus expectations. Results continue to be driven by NBA 2K, Red Dead Redemption 2, Borderlands 3, and of course, GTA V. The company issued weaker-than-expected guidance for fiscal 2021 with revenue declining as the company will not release any new major, nonannualized titles in the coming year. Take-Two has seen some benefit from the coronavirus pandemic as gamers have increased their playing time but management expects the benefit to be short-term in nature.

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Company Profile

Business Description

Found in 1993, Take-Two consists of two wholly owned labels, Rockstar Games and 2K. The firm is one of the world's largest independent video game publishers on consoles, PCs, smartphones, and tablets. Take-Two's franchise portfolio is headlined by "Grand Theft Auto" (220 million units sold) and contains other well-known titles such as "NBA 2K," "Civilization," "Borderlands," "Bioshock," and "Xcom".

110 West 44th Street
New York, NY, 10036
T +1 646 536-2842
Sector Communication Services
Industry Electronic Gaming & Multimedia
Most Recent Earnings Mar 31, 2020
Fiscal Year End Mar 31, 2020
Stock Type Aggressive Growth
Employees 5,800