Jim Cramer Says Lack of Sports Boosted Take-Two Earnings
Take-Two reported earnings on Monday night.
Take-Two reported a 54% increase in revenue to $831.3 million as the company saw a 52% increase in add-on content and in-game revenue that accounted for 58% of its total revenue. Net bookings, which includes in-game purchases, totaled $915.2 million, while net income for the period rose 91% to $88.5 million, or 77 cents per share.
Analysts were expecting the New York City-based video game company to report revenue of $824 million and earnings per share of $1.53, according to FactSet.
The company said its revenue growth was driven by the outperformance of NBA 2K20, Grand Theft Auto V and Grand Theft Auto Online, Red Dead Redemption 2 and Red Dead Online, as well as Social Point’s mobile games.
The company expects revenue in the fiscal second quarter to range between $750 million to $800 million, with revenue for the year expected to range between $2.80 billion and $2.90 billion per share.
So, what did Jim Cramer think about the earnings? Watch the video above for more.
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