Take-Two Interactive Software, Inc. Reiterates Financial Outlook for Fiscal Year 2019
02 February 2018 - 3:02AM
Business Wire
Continues to expect both record Net Bookings
and record net cash provided by operating activities, in excess of
$2.5 billion and $700 million, respectively
Take-Two Interactive Software, Inc. (NASDAQ: TTWO) today
reiterated its financial outlook for its fiscal year 2019, ending
March 31, 2019, which it originally announced on May 23, 2017.
The Company’s wholly-owned label, Rockstar Games, has announced
that Red Dead Redemption 2, which had been planned for release
during Spring 2018, is now planned to launch on October 26, 2018 to
allow additional time to further polish the final product.
Despite this change, Take-Two continues to expect to deliver
both record Net Bookings and record net cash provided by operating
activities, in excess of $2.5 billion and $700 million,
respectively, during fiscal year 2019, led by the launches of
Rockstar Games’ Red Dead Redemption 2 and a highly anticipated new
title from one of 2K’s biggest franchises.
As previously announced, Take-Two plans to report financial
results for the third quarter of its fiscal year 2018, ended
December 31, 2017, after the market close on Wednesday, February 7,
2018. The Company plans to hold a conference call to discuss its
results at 4:30 p.m. Eastern Time, which can be accessed by dialing
(877) 407-0984 or (201) 689-8577. A live, listen-only webcast and a
replay of the call will be available at
http://ir.take2games.com/.
About Take-Two Interactive Software
Headquartered in New York City, Take-Two Interactive Software,
Inc. is a leading developer, publisher and marketer of interactive
entertainment for consumers around the globe. The Company develops
and publishes products principally through its wholly-owned labels
Rockstar Games and 2K, as well as its new Private Division label.
In addition, Take-Two owns Social Point, a leading developer of
mobile games. Our products are designed for console systems and
personal computers, including smartphones and tablets, and are
delivered through physical retail, digital download, online
platforms and cloud streaming services. The Company’s common stock
is publicly traded on NASDAQ under the symbol TTWO. For more
corporate and product information please visit our website at
http://www.take2games.com.
All trademarks and copyrights contained herein are the property
of their respective holders.
Cautionary Note Regarding
Forward-Looking Statements
The statements contained herein which are not historical facts
are considered forward-looking statements under federal securities
laws and may be identified by words such as "anticipates,"
"believes," "estimates," "expects," "intends," "plans,"
"potential," "predicts," "projects," "seeks," “should,” "will," or
words of similar meaning and include, but are not limited to,
statements regarding the outlook for the Company's future business
and financial performance. Such forward-looking statements are
based on the current beliefs of our management as well as
assumptions made by and information currently available to them,
which are subject to inherent uncertainties, risks and changes in
circumstances that are difficult to predict. Actual outcomes and
results may vary materially from these forward-looking statements
based on a variety of risks and uncertainties including: our
dependence on key management and product development personnel, our
dependence on our Grand Theft Auto products and our ability to
develop other hit titles, the timely release and significant market
acceptance of our games, the ability to maintain acceptable pricing
levels on our games, and risks associated with international
operations. Other important factors and information are contained
in the Company's most recent Annual Report on Form 10-K, including
the risks summarized in the section entitled "Risk Factors," the
Company’s most recent Quarterly Report on Form 10-Q, and the
Company's other periodic filings with the SEC, which can be
accessed at www.take2games.com. All forward-looking statements are
qualified by these cautionary statements and apply only as of the
date they are made. The Company undertakes no obligation to update
any forward-looking statement, whether as a result of new
information, future events or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20180201005884/en/
Take-Two Interactive Software, Inc.Investor
RelationsHenry A. Diamond, 646-536-3005Senior Vice
PresidentInvestor Relations & Corporate
CommunicationsHenry.Diamond@take2games.comorCorporate PressAlan
Lewis, 646-536-2983Vice PresidentCorporate Communications &
Public AffairsAlan.Lewis@take2games.com
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