By Yasin Ebrahim
Investing.com - Take-Two (NASDAQ:TTWO) raised its guidance on Monday after reporting third quarter results that beat analysts' forecasts following a strong demand over the holiday season.
Take-two was down 3% in after-hours trade following the report.
For its fiscal fourth quarter, the company guided earnings in range of $0.98 from $0.88 and revenue in a range of $702 million to $752 million. Net Bookings were expected to range from $602 to $652 million, the company said.
“As a result of our better-than-expected third quarter operating results and increased forecast for the remainder of the year, we are once again raising our fiscal year 2021 outlook, and we expect to achieve record net bookings of $3.37 billion to $3.42 billion,” Take-Two said.
Take-Two announced earnings per share of $1.57 on revenue of $814.3M (NYSE:MMM). Analysts polled by Investing.com anticipated EPS of $0.9472 on revenue of $753.55M.
Net bookings, the number of products and services sold digitally or sold-in physically, fell to $814.3 million from $888.2 million.
The largest contributors to net bookings in fiscal third quarter 2021 were NBA 2K21 and NBA 2K20; Grand Theft Auto Online and Grand Theft Auto V; Red Dead Redemption 2 and Red Dead Online; Social Point’s mobile offerings; the Mafia: Definitive Editions and Mafia: Trilogy; the WWE series; Borderlands 3; Sid Meier’s Civilization VI; and PGA TOUR 2K21.
Net Bookings (operational metric) for the full-year were expected to range from $2.80 to $2.90 billion.
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