— Take-Two Interactive Software Inc. (NASDAQ: TTWO) reported its second-quarter 2020 GAAP earnings of $0.63 per share versus $1.68 per share expected.
— Revenue jumped by 74% to $857.8 million versus $925.56 million expected. Net Bookings went up 63% to $950.5 million.
— The top-line was driven by the success of its popular titles NBA 2K20, NBA 2K19, Grand Theft Auto Online, Grand Theft Auto V, Red Dead Redemption 2, Red Dead Online, Social Point’s mobile offerings, WWE SuperCard, and WWE 2K19.
— Looking ahead into the third quarter, revenue is predicted to be $915 million to $965 million versus consensus estimates of $928.14 million. Net Bookings are expected to range from $860 to $910 million.
— The GAAP earnings are anticipated to be in the range of $1.39 to $1.49 per share versus the Street’s view of $1.89 per share for the third quarter.
— For the full year 2020, the company lifted revenue outlook to the range of $2.93-3.03 billion from the prior range of $2.83-2.93 billion, versus the analysts’ forecast of $2.8 billion.
— Net bookings are now expected to be in the range of $2.75 to $2.85 billion compared to the previous estimate range of $2.6 to $2.7 billion for the full year.
— The GAAP earnings guidance is lowered to the range of $3.38 to $3.63 per share from the previous range of $3.71 to $3.96 per share. The consensus’ earnings view is $4.71 per share for the full year.