LONDON, UK / ACCESSWIRE / June 12, 2017 / Pro-Trader Daily publishes post-earnings coverage on Take-Two Interactive Software, Inc. (NASDAQ: TTWO) following the Company's disclosure of its fourth quarter and fiscal 2017 financial results on May 23, 2017. The maker of "Grand Theft Auto" videogames surpassed top- and bottom-line expectations. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Earnings Reviewed

For the quarter ended March 31, 2017, Take-Two's net revenue surged 52% to $571.56 million compared to revenue of $377.21 million in Q4 FY16. The largest contributors to net revenue in the reported quarter were Mafia III, Grand Theft Auto V® and Grand Theft Auto Online, NBA® 2K17, WWE® 2K17, and Sid Meier's Civilization® VI. The Company's revenue numbers surpassed analysts' estimates of $359.1 million. For FY17, Take-Two's net revenue grew 26% to $1.78 billion compared to $1.41 billion in FY16.

During Q4 FY17, Take-Two's digitally-delivered net revenue grew 43% to $278.7 million compared to $194.8 million in Q4 FY17. The Company stated that recurrent consumer spending (virtual currency, downloadable add-on content, and microtransactions) accounted for 50% of digitally-delivered net revenue, or 24% of total net revenue. During FY17, Take-Two's digitally-delivered net revenue advanced 2% to $921.7 million compared to $697.7 million in FY16. In the reported quarter, recurrent consumer spending accounted for 50% of digitally-delivered net revenue, or 26% of total net revenue.

For Q4 FY17, Take-Two's net income increased to $99.3 million, or $0.89 per diluted share, compared to $46.4 million, or $0.48 per diluted share, for the year ago same period. The Company's earnings results came in comfortably ahead of Wall Street's expectations of $0.59 per share. For fiscal 2017, Take-Two's net income increased to $67.3 million, or $0.72 per diluted share, compared to net loss of $8.3 million, or $0.10 per diluted share, in fiscal year 2016.

Operating Metrics

Take-Two's total bookings grew 14% to $370.6 million in Q4 FY17 compared to $324.4 million during Q4 FY16. The Company's catalog accounted for $216.8 million of bookings led by Grand Theft Auto. For the reported quarter, digitally-delivered bookings increased 28% to $267.4 million compared to $209.5 million in the prior year's same quarter. Bookings from recurrent consumer spending grew 64% on a y-o-y basis and accounted for 70% of digitally-delivered bookings, or 50% of total bookings.

For FY17, Take-Two's bookings advanced 19% to $1.80 billion compared to $1.51 billion in FY16. The Company's digitally-delivered bookings totaled $987.2 million, reflecting an increase of 25% compared to $790.1 million in the year ago same period. Take-Two's bookings from recurrent consumer spending surged 52% on a y-o-y basis and accounted for 57% of digitally-delivered Bookings, or 32% of total bookings.

Cash Flow

During Q4 FY17, Take-Two's net cash provided by operating activities grew 27% to $331.4 million. As of March 31, 2017, the Company had cash and short-term investments of $1.392 billion.

Outlook

For its fiscal 2018 first quarter ending June 30, 2017, Take-Two is forecasting GAAP net revenue in the range of $390 million to $440 million. The Company is estimating GAAP net income to range from $74 million to $85 million and diluted net income per share to be in the band of $0.65 to $0.75.

For the fiscal year ending March 31, 2018, Take-Two is projecting GAAP net revenue in the range of $1.95 billion to $2.05 billion. The Company expects to generate net income in the range from $504 million to $540 million and GAAP diluted net income per share in the band of $4.35 to $4.65. For FY18, Take-Two is expecting net cash provided by operating activities to be approximately $150 million, while capital expenditures are expected to be approximately $60 million.

Stock Performance

At the closing bell, on Friday, June 09, 2017, Take-Two Interactive Software's stock tumbled 5.07%, ending the trading session at $75.30. A total volume of 3.84 million shares have exchanged hands, which was higher than the 3-month average volume of 2.00 million shares. The Company's stock price skyrocketed 27.63% in the last three months, 53.61% in the past six months, and 90.25% in the previous twelve months. Moreover, the stock soared 52.77% since the start of the year. The stock is trading at a PE ratio of 145.93 and currently has a market cap of $7.86 billion.

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