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Jim Cramer Says Lack of Sports Boosted Take-Two Earnings

Jim Cramer weighs in on Take-Two's 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. 

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here.

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