Take-Two Interactive Software (TTWO) FY2019 results: revenue $2.7 billion, up 48.8% on the year
Take-Two Interactive Software, Inc. (TTWO) reported revenue of $2.7 billion for fiscal 2019, the year ended 31 March 2019, up 48.8% on the year before. Net income was $334 million, up 92.4%, and diluted earnings per share $2.90. The figures are the company's own, from the 10-K it filed with the SEC on 14 May 2019.
Revenue
$2.7 billion
+48.8% on the year
FY2012FY2019
Operating margin
7.7%
7.6% a year earlier
FY2012FY2019
Net income
$334 million
+92.4% on the year
FY2012FY2019
Diluted EPS
$2.90
+88.3% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
2,668
1,793
1,780
+48.8%
Cost of revenue
1,524
898
1,023
+69.6%
Gross profit
1,145
895
757
+28.0%
Gross margin
42.9%
49.9%
42.5%
Operating income
207
136
91.3
+52.4%
Operating margin
7.7%
7.6%
5.1%
Pre-tax income
233
137
77.0
+70.4%
Income tax
-101
-36.9
9.7
Effective tax rate
-43.4%
-27.0%
12.6%
Net income
334
174
67.3
+92.4%
Net margin
12.5%
9.7%
3.8%
Diluted EPS
$2.90
$1.54
$0.72
+88.3%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
844
494
408
+70.9%
Capital expenditure
67.0
61.6
21.2
+8.8%
Free cash flow
777
432
387
+79.8%
Free cash flow margin
29.1%
24.1%
21.7%
Cash from investing
-224
-272
-129
Cash from financing
-464
-281
-49.8
Depreciation and amortisation
40.2
44.0
30.7
-8.5%
Share-based compensation
248
116
81.9
+112.9%
Buybacks
362
155
0.0
+134.1%
Diluted shares, weighted
115m
113m
94m
+2.1%
Shares outstanding at period end
112m
114m
103m
-1.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,041
1,489
1,004
+37.0%
Debt
0.0
8.2
268
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
2,202
2,241
1,877
-1.7%
Total liabilities and equity
4,243
3,738
3,149
+13.5%
Fixed assets
128
102
67.3
+24.8%
Goodwill
382
400
359
-4.5%
Intangible assets
73.1
98.5
95.4
-25.7%
Investments
744
615
449
+21.0%
Cash and equivalents
827
809
943
+2.2%
Receivables
396
248
220
+59.8%
Inventory
28.2
15.2
16.3
+86.0%
Other assets
1,665
1,450
999
+14.8%
Total assets
4,243
3,738
3,149
+13.5%
10-K for the year ended 31 March 2019, filed 14 May 2019: the filing.