Take Two Interactive Software (TTWO - Free Report) reported second-quarter fiscal 2020 GAAP earnings of 63 cents per share, up 186.4% year over year.
Net revenues surged 74.1% from the year-ago quarter to $857.8 million. The growth was driven by robust performance of Borderlands 3, NBA 2K20 and NBA 2K19, Grand Theft Auto Online and Grand Theft Auto V, Red Dead Redemption 2, Red Dead Online, Social Point’s mobile offerings, WWE 2K19 and WWE SuperCard.
Recurrent consumer spending (virtual currency, add-on content and in-game purchases, including the allocated value of virtual currency and add-on content incorporated in special editions of certain games) increased 32% and accounted for 37% of total GAAP net revenues. NBA 2K20 launched by 2K Visual Concepts during the second quarter contributed to growth in recurrent consumer spending.
The Zacks Consensus Estimate for earnings and revenues was pegged at $1.67 and $913 million, respectively.
Take-Two Interactive Software, Inc. Price, Consensus and EPS Surprise