TTWO - Earnings call transcript Q3 2020 | Take-Two Interactive Software, Inc.

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Operator

Greetings and welcome to Take-Two Interactive Software’s Q3 2020 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded. I would now like to turn the conference over to your host, Mr. President Relations. Vice Senior Diamond, of Investor Hank Thank you.

may begin. You

Hank Diamond

year and you afternoon. our the Take-Two’s Strauss XX, Zelnick, fiscal Executive led conference Goldstein, and Karl will Good Today’s third ended joining call XXXX. of Take-Two’s for call thank Lainie by results Officer. Slatoff, for our Welcome Chief be and December Financial its to quarter Chief Chairman XXXX Officer; discuss President;

session available be questions answer following our to remarks. Q&A will We during prepared your the

like remind forward-looking on historical These us. everyone information would federal made I as this call not are statements the laws. begin, are during our and management currently facts well we Before available based to of forward-looking statements securities statements as to that beliefs by that assumptions considered are under made

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Strauss Zelnick

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over turn now call I to Karl. will the

Karl Slatoff

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to call turn now will Lainie. over I the

Lainie Goldstein

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our delivered entertainment year. highest strong and reaffirmed quality that third on quarter results deliver In focus pace to closing, terrific producing the on remains another Take-Two

is returns class to value with to ahead shareholders. to deliver operational solid world our foundation company customers excellence and commitment our creative exceptionally and to our financial our Looking firm well-positioned teams,

I Strauss. you. the now will back turn Thank call to

Strauss Zelnick

want our entire shareholders, I hard our to their and to our team, appreciation express for colleagues excellence. behalf thank management to continued To like our and Lainie Karl. for work Thanks, would I your On of support. commitment

questions. now take Operator? your will We

Operator

Our Sanford comes Please Thank conducting Todd session. with Juenger a you. question. will time, of with your question-and-answer question from this line be the [Operator we Bernstein. proceed first Instructions] At

Todd Juenger

have I it. question. Hi, I I ask expecting good that thank feel, sure you hope you this I to for question, am are and understand the you afternoon taking

tell I So sure can competition, pipeline future you that departure significant Strauss, am Karl Rockstar. on matter, at we’d had or can and whatever say us succession impact a about plans executive planning the anything operations Thank in you you. you on appreciate? culture,

Strauss Zelnick

is question. your Strauss. This Todd thanks for

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Todd Juenger

you. Thank

would XXXX, mind, If AAA should in then appreciated? launch every expect multiple this announcements times a at heard ask could so AAA anything, just and more of business tat follow-up includes that be We release you year not year, if every X I think least about could side, Thanks. I’m year – game that, the more to publicly any as say calendar Take-Two assume but a year about a you year. asking aspires formal you Strauss, don’t I’ve that anything this for well say we with I

Strauss Zelnick

product our are So initial do, to always for you May releases. our and hear ‘XX outlook course always fiscal going labels we in our of as make

you our beloved have is the schedule set release from iterations out pointed strong strategy to both have frontline correctly We as franchises.

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Todd Juenger

you I it much. leave so Thank will there.

Operator

next Cowen question. & line question proceed the of Cruetz from Our comes your with Please Doug with Company.

Doug Cruetz

new you It of you process? year. loops? pocket Is seems little guys spend that it you sort XK this something to would of recurrent engagement the running of correctly Anything spending. that into hiccup it are just with within can air incredibly recall frontiers pains X on you to you Could strong. find something had again be growing the Obviously, talk NBA money? the a sort Is about as of consumer for bit ago, to If an Is consumers last year of franchise a years what’s on? going sort to say Thanks. bit with try in continue get was helpful? I

Strauss Zelnick

Yes.

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in modes strong, and optimize we is will there were spending at that consumer didn’t some to be time, are certain engagement changes is spending able recurrent same the strong design specific we the So confident and the address those.

Doug Cruetz

Okay, thank you.

Operator

Please Crum proceed the with next your with line Stifel. of Our question. Drew comes question from

Drew Crum

view for expectations available reduced has without on led into has it’s the to getting Okay, afternoon. comment on what how you the then game the the can specific steam? game once Hey, thanks. guys. And to-date? your Good PC What are Borderlands on numbers, X, performed on

Strauss Zelnick

Borderlands Well, than nearly outlook. better actually original our in is performing It’s sold million units. X

for have the X of fact And moment. title’s franchise. record net at this season more downloadable point the pass that And one set the at attach we in the we expect content series a record the for bookings a for have three Borderlands launched packs record lifecycle. in of rate We in the terms the expected a XK and is will

our So us. expectations hit very big for It’s remain solid a strong. and great

Lainie Goldstein

season, really the real bit for our at high we begin was which title had year, When lifted and of very Right. expectations it very little the went we’ve we than to beginning seen higher with. the excitement Christmas a into the had we

did title. those for meet didn’t that we our very expectations expectations, but higher the meet So, we original high

down bringing we slightly, that’s beginning of it are high but from it’s So the why year. the very

Strauss Zelnick

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Drew Crum

a you what And again, press release, for initial just enough. fair Okay, strong, as game indicated sell-through that the I on are follow-up quite was launches steam? the expectations it once on think PC in the your

Strauss Zelnick

very our continued expectations. We high

set that we franchise. the As expect Borderlands X fully a for record I will said,

Drew Crum

it. Got

Okay. Thanks guys.

Operator

your line of Oppenheimer. Our question. Andrew with Please next question comes Uerkwitz from the proceed with

Andrew Uerkwitz

me ask you questions a here. couple letting Thank for of

or you? Does in the what or the uncertainty about service uncertainty games actually think GTA about generation next console live think the Online we that’s should have as it how alleviate just next does more kind to or whether console? it one first – we of of The NBA new transition terms add

Karl Slatoff

Karl. Hi, it’s

the generation about console. next We are excited really

consoles and expectations I to the are think will console lot think is us. partners, exciting the are that of about now about a and part Microsoft leave next are do there generation details is what a best knows have far going to going the prospective so is it. I we anticipation for that able buzz the the I everyone very but to for be technological to what from think Sony, I our of

industry. of great of with so – a cycle regard, sale. now to I teams that limits after initial are for believe in it create in time that will kind tech, creates to And want it engage again going time are have the for technology our any and going eliminates – next periods you to push the we we that that and very it creative robust experiences even for opportunities these thing and long very to consumers know advancements great uncertainty, of we be those the we our of incredible the think And that because console

So is we that to that all and will company. lead got growth a do this It’s expect for the our the have indications for will to ability extent positive to thing. very we that we

Andrew Uerkwitz

built ongoing service have that older current for for now that Even you live were generation? games

Karl Slatoff

it each there those transition to console than generation are game what the experiencing mean, any from cycles new I with the success is for is that the services old Yes, to the console exactly to no be console from the be would vary, – in concept will but is believe between we look less – going reason than generation. that

Andrew Uerkwitz

of that or Thank the hurt think kind question, Microsoft Worlds it. you. Got do on then Outer helped you just think the I success game franchise? that And of was level higher Xbox pass,

Strauss Zelnick

hard say. It’s to

the has it all long we is we chances where to I exist makes but think said to want think offerings better they sense take catalog, willing consumer are when awards. be option have and we we experimental to Generally title pleased extent particular the are speaking are when that speaking, partnership makes probably X won million sense what the a suited generally great that subscription to and for sold game is. we are title Microsoft such mostly that with for And in also have deal a the hit, pleased it’s that us. is than big units XX more we and underlying we

So all these including early days It’s many platforms. early for of technologies, days streaming obviously for technology. it’s

the is. to consumer Our where goal be is

and are we are open-minded. ecumenical We

Andrew Uerkwitz

guys much. Thank Got you so it.

Operator

with comes of question Matthew from next Please Thornton SunTrust. proceed with question. line the your Our

Matthew Thornton

bigger Hi, good will NBA question this GTA than the afternoon it that of is back to have question. And the we just that of in that, year-on-year year for just of Red departure, but messaging think back initial the year’s want premium question? coming quarter? from having, given as like has a departure, lot December, plans the Similarly, launch. expectation be the other it to could sure last could the it be year-on-year? success I down are isolated would sounds that you the still and Thanks I XK NBA was thanks of could then as been, just that GTA asking back to questions has triangulation paraphrase helpful. comment culture been, year, is was recent has or of Dead, when recurrent the for an be two taking the been, is Online earlier would include had progress sales quick actually Maybe Strauss sure make the then case in like kind guys. kind your fairly to mean, make recurrent that in SKUs around be I there the it still investors guys. it and fourth departure, it actually I be and no where Is the half I up pipeline the versus come housekeeping right, color obviously Any want message as was we the this a that some

Lainie Goldstein

in said have the is in contributor first the for consumer we one, all recurrent spending So XK highest that NBA titles. the

So that we I missed Sorry question? is said have your second What that. one.

Matthew Thornton

SKU Red actually could the even including Online, year? premium of that up kind be if last year-on-year, contribution On

Lainie Goldstein

No, it’s with including edition. special without special including editions, up, not the only the it’s

Matthew Thornton

team of of think in fall And the Rockstar category question and as stability the forward of well as think will I culture of the terms question labels. the the your questions your – about your in I going

Take-Two not say it’s even organization doesn’t. for an work is typically I speak with they most great able and experiences people Sam the Houser And he pleasure trying but goals can of stability, seen So exceeded of Games. I President at And Rockstar at of ongoing in as other things be I think the who innovation. is team confidently very highly He be Rockstar those our a than their I we I amazing. effectively to extraordinary team leads and the committed great are in and more improvements terms Sam couldn’t we just Games. to to thousands the and one player everyday that’s the coach do that is true and a label to are that’s utterly don’t Sam the entertainment He operations, be improve achieve and they man. people, proud is that Sam sets and Rockstar. to and that It have growth Games their or be that entire of self the the work of culture. company and its quality about try I And we whole and always seen of how labels incredibly a critical think operating. aim Culturally, touches frankly only of And of and known – founded make speak to enormous business who is have all better. quality everywhere for those a Rockstar and always I engagement are I that, is trying which to standard only transparent. goals, to team more Rockstar closely often quality together way and frankly, that of of our

both content strength, engagement of and this incidentally revenue records for Online player think Auto and Red been dropping Dead that Online I delivering I Theft and amazing content our terms on set profitability. and in one the year same day owing Grand excitement mean, has of

better expect So departures. be things very couldn’t specific, no, and to other be don’t we certainly

of an always place our short to the a And to labels fall we offer average. ever the as do all work of to I aim rate Take-Two corporate as And have organization vastly whole, and extraordinarily attrition, lower that’s at industry at we great an than think As we because low we that extent well. better.

Matthew Thornton

guys. Thanks, Great.

Operator

with question. with of Gee Bank the question next Our proceed comes Ryan from line of your America. Please

Ryan Gee

Thank guys the for taking good hey, afternoon. Yes, question. you,

the the of coming from as likely get greater Lainie, the we first XX% especially quarter past to Valley update consider an out guidance And are question. could provide year in impacted or other does first Anything I consumer has Cloud one for you X Hangar for Chamber, recurrent there? years? NBA you guidance on bit present say now now business over lower? in confidence you? touched and your us to maybe how your ability for content XK also X Great. this you Should maybe can guess, Silicon coming then That’s the next maybe you the Borderlands XK spend, with in Karl, on to than Studio, So one out, challenges have have in that those XX,

Lainie Goldstein

can pretty grow especially things we different as out and perform don’t and with variable. to are is time are titles trying comes different going are also different think it in year in that that we when of games – spending, next that’s difficult different content Well, the them as predict, then to know to they market in year other that are when that consumer challenges and X decline well easier out. still how predict then you you be when there well, in making It’s other does long different and are you – to it for but have the a would I present as expect forecasting they declined that terms things recurrent there some and such

definitely use are lot but can there a better to predictive, getting more analytics every to information year. it that and make we be have that we more year different and year changed that we can things So at different are it from

better I’d but say consumer we each getting are it, have year. we things recurrent in So there that are spending at different

say So that it’s that getting I wouldn’t better are but slam-dunk, at. we definitely a it’s something

Strauss Zelnick

studios. working because it’s both in and about to And more Hangar could Michael XX studio. Condrey tell they are regards what about your on, exciting, you also the I very wish question I

at and Hangar to team named well studio We on be led have and projects. Hayden the also working excited by are new Michael’s to yet XX incredibly exciting as

more and in and projects obviously you coming our large As that two very is that. of share part I to with we said diverse are very about these going pipeline is And before, the are months.

with both I thrilled – with can wish of both tell certainly folks we will those games so could are those stay of they the tuned. I out very in because So be business in them, expect be you that exciting their but and entire teams, there to of stay are you coming tuned, more about studios.

Ryan Gee

slate point, BioShock, includes just characterization Borderlands Okay. should follow-up if last not on came, studios? still so that, XK a ahead several your content, could out, years assume also I that And then of Rockstar we robust just that just

Strauss Zelnick

Yes, of our and Division, all entire Social Rockstar XK. we Private labels, about are company, the talking Point

Ryan Gee

Thank guys. Great. you,

Operator

comes Our Sheridan Eric line with the Please of your next question proceed from question. with UBS.

Eric Sheridan

of with about the producing last your another how thinking in years that about couple player broader terms partnering or Thanks in of announcement to with what think in a the for very a question. Google partnerships Thanks Curious at respect about maybe the so thinking through Maybe and are own or own as your are in either outsourcing thinking one, secular same good either think relationships? the saw the playing with wrapping industry computing for are large mechanism in you the industry that direct-to-consumer efforts content picture of over owning the you’ve the much much. are out amplifying how infrastructure, about and you technology you either creation distribution content weeks. about a you taking themes been through and make owning to to so bigger how larger the over respect and channels cloud or broadcast you gaming. How that couple

Strauss Zelnick

new that tailwinds sort or points not focus focus and in the new on I these through business we company represented. and appreciate of technologies, a geographies question has on expanding new models, new industry up question points the where this types are entertainment the geographies our extraordinary of currently

the sort would of above. multiple be a for all choice And so question, it’s of it

We are of on all focusing them.

direct-to-consumer at very at looking options do on engaged looking You options. answer side we the in include how are And we that asked are distribution specifically is the that?

be been – Karl strategy to over. keep is. choking, where consumer have the to I strategy to Our me, going has If excuse our is take

where of ecumenical do about be that. expect to continue all and to players apologies is to of be and consumer Our been I strategy work will and distribution to opportunities the has all various space we the with the – in

Operator

with question line Mario Please with the Lu proceed next of the Our comes Barclays. from question.

Mario Lu

on one Hi, couple questions, one on of and a have GTA I Red Dead.

of So suspect which added GTA and now starting year PlayStation had in with January, partnerships I then last Game players. late it Pass Xbox’s millions V

are Red you know Red plus that GTA I years but of well? in on as and these So, Dead Online hear X uplift glad how any regarding that how color Red types an And provide Online to before confident bookings? provided a Thanks. they year-on-year Dead, specifically, secondly, that GT or much then engagement Online partnerships you and of tripled world Dead can own, you Online mentioned for is its maintain of grow can to

Strauss Zelnick

we titles partners. not, benefit they more will able specific benefit are we level of view all our a those how than say pan of out, to specific and that things. with arrangements three the us do of with typically enter detail will to except go those terms often In into don’t we into And that titles, will they arrangements that they benefit

is, deliver don’t have to the we of where way more high up about asked is going terms we a lot In content. going seeing consumer that a Online the momentum as was incredibly really really take are how do any it lot know that are But We when in success and asked Auto quarter. Grand forward. feel Dead excited Red Online, I are good Theft we know early knowing of really don’t we will us. I about on we we What the of the great said,

up And these show great so we look content engaged. far franchises, deliver does beloved stay consumers and into when like it

about we about very the the Online are see. excited and Red are future we Dead momentum we So optimistic of

Mario Lu

you. Thank helpful. That’s

Operator

of comes the question. Please next line with Eric proceed Partners. with Handler MKM from the question Our

Eric Handler

much you actually Thank I the question. for two. very got

might those are For released next AAA Anything in the little you bit X bit Online, to business, the that development sort Red Dead originally drops and talk be your a next development years roadmap content could give how the currently first, be And of big the the on Dead that lift first would Online? years? maybe you extent seen be willing in helped say many when of for how gun would of content with had the about really development beyond many might X X GTA couple a of secondly, of the we so of greatly drop that sort runners type to you that released you many to comodo a little launched if games pipeline and wondered heist and there and that how wondered did, a console in you to Red appreciated? Online, yet have of be

Karl Slatoff

Hey, Eric, Karl. it’s

on call comes do pipeline, and are more this have I like – some pipeline And – single to exactly question and every the that said are color obviously more we regarding pipeline. had what exact going we investors. every coming the you we months about on we share we over give single meeting constitutes the with Just up

So little mid-core I more bit got a business idea will going games, of core we on free-to-play have new with give between franchises, IP you existing models, what and different casual games, games, games.

a share information regarding lot coming you more the to hoping months that. over are We with

Strauss Zelnick

have they quantitatively to the numbers. terms reflected The will I And think consumers compare content. the content. love goal Red And Dead this Red been in did Grand and different games, content excitement can I in no to types continue are and Online seen to is have latest that to content then against. don’t of But is qualitatively real and have that’s just they in that you spend great and are – Moonshiners am all of suppose Dead compare I dropped. there of update, They last Dead, drops deliver for that Games fantastically Online, we confident different but on create Auto great way and – content to generated successful engage or Red the to content Theft content Rockstar

Eric Handler

you much. very Thank

Operator

with from proceed Sachs. the question with question. of Please Ng line next Goldman the Our Mike comes

Mike Ng

Strauss. you M&A the question. just have thank for on Hi, very much one I for

I’d get it hearing As catalyze in the And horizontal frontline products. making vertical your thoughts AAA publishers you consolidation have game video group, eventually future? content to as seems available the also of been think on subscription well? a their on like date prospect could day appreciate pretty to content consolidation resistant that Do and that

Strauss Zelnick

I’m – are where crystal of of I’ve most ball we think I when crystal is proud ball in the been the predicting very my really a bad consolidation I time, industry. had

ago, are still XX the in about I waiting. think industry consolidation predicted and meaningful we I years

industry entertainment tailwinds and sold get So lot why to are weak tends it seems of imagine you typically, scrap, out pressure, only consolidation. a that’s are get would these case. the for see to horizontal is stronger. industry, where in Horizontal and in pressure that hard certainly, players consolidation get washed you occur It an the when extraordinary historically really under the strong and or essentially, have been under industries players companies

sure not expect. what I’m So you

vertical from going well. I anxious record track entertainment the jump-start linear exclusive – that, build of first they imagine over doesn’t consolidation the your business, very and again. rights is could the about to interactive I audience over But imagine that question One business poor, in very could it tried think entertainment to for been you at your first would a business school, interesting, distributor value. acquiring vertical And and key could even day though product hard suppose be has tried an explained consolidation service us, to create very our have that of that’s powerful to the of billion. the we a both cash lot cash and colleagues us hard that’s can, any for point approach significant a view, shy view is try and terms don’t our customers, well. business our and What to have and day debt. of have $X try just a of to balance, us our served to We of be investors, up creative and own get flow. And in a we to do every M&A, say. And do we best we point job we of

for year operating revised $XXX we’ve the our from million fact, to adjusted In up upward million. about expectations flow $XXX cash

Capex down well. little bit is as Our a

So transactions. we a are in position pursue certainly to

several powerful it Social analysis is financially and is, years ago. that lens Point accretive, and is us led strategically acquire to Our

matches And hope to well. criteria, that to we would happy those an the move forward are we opportunity We did. extent as

Mike Ng

for you Craig, thank your thoughts.

Operator

next proceed question. the Research. Our with comes Edge the Raymond line with Stochel of from Please question Consumer

Raymond Stochel

deeply Dan you even Great, question. about thanks meant thinking really that on involve for these is comment taking can this One well. certainly up think Proletariat. investment incentivizing It’s changing Can opening as differently more matters. Houser, your far new that you about and about is making market but on new way I your bringing and to in you and to talk pipeline how changing ideas you about you employees? you studios as the retaining the that are my how think not business talent equity in you’re these the have know models as

Strauss Zelnick

trying Yes. will We new to we about creativity. thing. next differently always are What think be is there know a

have entertainment You seen interactive XXXX. or not the expression entertainment of here is final in what

if so at us, not. that, shame certainly the the to are we and us are of You XX, from X, on big be to positioned X, XX years. innovations, but line in going X, hopefully be And able ought see are X, from industry, we that next front the we to

the it expression of either We here creative profits. is good. making is exceed And exceed culture at will culture culture one that And share we call the miss we profit shares, for can responsibility but or you it’s our one our and success. things, although will our that we We underlies evolve, your then by level, In the of it’s So is goals, it’s our essentially label our arrangements. essentially. have If zero. verbally, your we are culture. for-profit goals, profit-sharing goals, disappointing for all And the a of outline with increase different drive emotionally culture part And do equally, of sharing. good, team massively the very unchanged not because If shareholders sharing programs compensation our But If failure. programs will we compensation incentives compensation. our comp remains driven that an in it sure self-liquidating, what but we it’s works. have must because enterprise, programs align evolve. take compensation that by we or incentive essentially

think labels the discretionary all things. they the beings other and human We believe because the better we in goal. better comp it’s the And the politicking That’s the programs. do, formulaic, shareholders do, to better our do. don’t lead bad So

plan profitability at comp entirely the results divisional Our formulaic versus on level. based and/or operational programs almost are actual

Raymond Stochel

Great, thanks very much.

Operator

from comes question next Our of with Jefferies. the question. Giaimo line your proceed Alex with Please

Alex Giaimo

in a lot portfolios. mentioned you guys your an your remarks, of valuable opportunity you IP in have free-to-play as Karl,

work basis launch to your offering, could So IP? catalog just new curious Thanks. you likely a if free-to-play or based will it anything on in if on be free-to-play were more

Karl Slatoff

in old that model was mean business that models in to free-to-play experience There that short free-to-play. to free-to-play doesn’t Yes. business AAA free-to-play right creative has is I achieve goal ownership the what a can’t that are you is franchise to our biggest creative the but the examples model amongst mix etcetera. would necessarily games, where do we the pursue the and IP general AAA from business really could certainly, team And really prospective that belief be new I that. of lots answer models philosophy, a and but are that trying Free-to-play then doesn’t be type that’s on going you invest development case, future type have is think the tend a a on And title. work the there and in I to level our same sure It that are in the that things basis. that at opportunity catalog a mean, not the we those of new standard work context. the probably pursue ownership to mean necessarily is am

it could both. answer really the So be

Alex Giaimo

Karl. it. Got Thanks,

Operator

with SunTrust. the with line Matthew question proceed next Thornton of Our from your comes question. Please

Matthew Thornton

taking was actually But different ask in. question I for a one. taken. thanks My me back will Hey,

thinking what Karl just by you we kind was talking Thanks about about next ‘XX number guys studio, or or venue just this the a this it that of venue in there? a providing? is ad-hoc there color should curious call, us? to here. that you how slate next that on think is the then And of think certain kind the coming talking the mentioned were that just of pipeline about just outlook is months one is multiyear I I couple just of am more fiscal is information Any about guys.

Karl Slatoff

look, insight currently goal but a we that is into out, future come the what our Yes, I the is. there know the pipeline we day. years will when to not and in mean, and change to And pipeline into in as is many goal and things is have give in the see sure pipeline see months And see, that information that, light we will obviously, as into really which could when That’s will wait what are insight know the of you one coming not we exactly have it. do much be everything comes that We that in it be thing our you’ll pipeline you can. for share we is will it will information but will pipeline. multiyear the and

Operator

Our with question Jeff Cohen question. Please with Inc. of the proceed comes from line your Stephens final

Jeff Cohen

then see question. from the games since guys. about September? you Rockstar third-party Take-Two you it could from for or went Hey, publishers? launcher And games studios engagement taking back even other with adding live in Thanks Games talk eventually Can the

Strauss Zelnick

that now. essential to direct-to-consumer are the of highly our can equally, in strong We part do effectively are and have broadly. of where pursue doing That’s very independent. they site company you it Yes, to But labels for Game buy work had together terms we our see offerings. we Launcher results that company obviously would various excited have games pursue Rockstar hope will that are how would I the the and work

are any we to only anything. one So have buy I think of place unlikely sort are probably your to expectations that

likely are We have to multiple outlets.

outlets. We are likely direct to have

And centralized cooperatively, are to multiple We will underpinnings worked work together all the we with don’t organization, be opportunities underpinnings we we will business the the technical and be underpinnings are within likely but third-parties. have duplicate likely the the throughout to efforts. organization, so

the have we that’s we goals. in can approach working people service approach together productively where So and then a you quite have same see internally all highly efficient consumer-facing a of varied

Jeff Cohen

Thanks, Strauss.

Operator

we our gentlemen, management question-and-answer session. turn end the to to and And would have Ladies any reached remarks. closing back the of like I for over call

Strauss Zelnick

everyone Thanks joining us today. for

We by driven by are the of teams as driven results very well. proud our teams creative and business our

grateful colleagues the We world. to all are around our

to grateful attended ask We and grateful support who thoughtful of you are and questions. be their to the for to and all very time took our shareholders

Operator

concludes today’s teleconference. This

this for a You you and wonderful lines Thank your may time. now disconnect have your at participation day.

Take-Two Interactive Software (TTWO) 6 Feb 202020 Q3 Earnings call transcript