{"id":20038,"date":"2019-11-11T12:07:19","date_gmt":"2019-11-11T17:07:19","guid":{"rendered":"https:\/\/capital10x.com\/old\/?p=20038"},"modified":"2019-11-12T05:11:19","modified_gmt":"2019-11-12T10:11:19","slug":"take-two-ttwo-2020-financial-guidance","status":"publish","type":"post","link":"https:\/\/capital10x.com\/old\/take-two-ttwo-2020-financial-guidance\/","title":{"rendered":"Take-Two Raising Financial Outlook For Fiscal 2020"},"content":{"rendered":"

After a strong showing with fiscal Q2 2020 financial numbers,\u00a0Take-Two Interactive Software, Inc.<\/strong> [stock_market_widget type=\"inline\" template=\"generic\" color=\"default\" assets=\"TTWO\" markup=\"(NASDAQ: {symbol} {currency_symbol}{price} ({change_pct}))\" api=\"yf\"] is raising its operating outlook<\/a>\u00a0for the full fiscal year and forecasting higher numbers for the upcoming next quarter.<\/p>\n

For the latest fiscal quarter ending Sept. 30, Take-Two announced incoming revenue of $857 million, a sharp uptick just shy of 75% from the same period last year.<\/p>\n

With those higher than expected numbers arriving this week, the company is now expecting the quarter ending Dec. 31 to see net income between $159 – $170 million, with net revenue expected in the $915 – $965 million range.<\/p>\n

Revenue for the full fiscal year ending in March is additionally expected to land somewhere near the $3 billion mark.<\/p>\n

Revenue for this latest quarter and the coming fiscal quarter are seeing stronger than average numbers based on the high-profile releases of sequels to major franchises, such as Borderlands 3<\/em> and the eSports focused NBA 2K20<\/em><\/a>.<\/p>\n

The company also just marked the anticipated launch of The Outer Worlds,<\/em> a new first person, sci-fi RPG from long-running developer Obsidian. The RPG-focused development team was recently snapped up by Microsoft and teamed up with Take-Two Interactive for publishing The Outer Worlds<\/em> on PC and consoles.<\/p>\n

Discussing recent franchise releases and the company\u2019s increased guidance for the coming months, Take-Two Chief Executive Officer Strauss Zelnick commented:<\/p>\n

As a result of our better-than-expected second quarter operating results, we are once again raising our operating outlook for fiscal 2020. The third quarter is off to a solid start with the launches of The Outer Worlds <\/em>and\u00a0and WWE 2K20<\/em>, and we will bolster our holiday line-up with offerings for Google Stadia and Sid Meier\u2019s Civilization VI<\/em> for PlayStation 4 and Xbox One. <\/div><\/div>\n

While WWE2K20<\/em> has seen a relentless onslaught of negative reviews<\/a> over major bugs and glitches, that negative press doesn\u2019t seem to have made a major impact on the company\u2019s bottom line yet.<\/p>\n

The larger number of major titles released through various Take-Two subsidiaries or publishing deals is also keeping the company\u2019s numbers higher, such as the lauded Red Dead Redemption 2<\/em> and its multiplayer counterpart Red Dead Online<\/em> arriving on PC a year after the game\u2019s original console launch.<\/p>\n","protected":false},"excerpt":{"rendered":"

Following several major franchise releases in recent months, Take-Two Interactive Software, Inc. (NASDAQ:TTWO) is increasing its 2020 guidance.<\/p>\n","protected":false},"author":12,"featured_media":18321,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1112],"tags":[208,1146,1147],"class_list":{"0":"post-20038","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-tech","8":"tag-company-news","9":"tag-take-two-interactive-software","10":"tag-ttwo"},"acf":[],"yoast_head":"\nTake-Two (TTWO) Raising Financial Outlook for Fiscal 2020 | Capital 10X<\/title>\n<meta name=\"description\" content=\"Following several major franchise releases in recent months, Take-Two Interactive Software, Inc. 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