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Take-Two Interactive Software, Inc. Reports Strong Results for Fiscal First Quarter 2018

Take-Two Interactive Software, Inc. (TTWO) today reported strong results for its fiscal first quarter 2018, ended June 30, 2017. In addition, the Company provided its initial financial outlook for its fiscal second quarter ending September 30, 2017, and updated its financial outlook for its fiscal year ending March 31, 2018.

Fiscal First Quarter 2018 GAAP Financial Highlights

Net revenue grew 34% to $418.2 million, as compared to $311.6 million in last year’s fiscal first quarter. The largest contributors to net revenue in fiscal first quarter 2018 were NBA® 2K17, Grand Theft Auto V® and Grand Theft Auto Online, WWE® 2K17 and WWE SuperCard, and Mafia III.

Digitally-delivered net revenue grew 56% to $268.2 million, as compared to $172.1 million in last year’s fiscal first quarter. Recurrent consumer spending (virtual currency, downloadable add-on content and microtransactions) grew 72% year-over-year and accounted for 63% of digitally-delivered net revenue, or 41% of total net revenue. The largest contributors to digitally-delivered net revenue in fiscal first quarter 2018 were Grand Theft Auto Online and Grand Theft Auto V, NBA 2K17, and WWE SuperCard and WWE 2K17.

Net income increased to $60.3 million, or $0.56 per diluted share, as compared to net loss of $38.6 million, or $0.46 per diluted share, for the comparable period last year.

As of June 30, 2017, the Company had cash and short-term investments of $1.281 billion.

The following data, together with a management reporting tax rate of 22%, are used internally by the Company’s management and Board of Directors to adjust the Company’s GAAP financial results in order to...


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