Summary
Take-Two Interactive Software, Inc. (TTWO) filed an 8-K on August 2, 2016, to disclose changes in its presentation of non-GAAP financial measures. This change is effective immediately and will be applied starting with the earnings release for the first fiscal quarter ended June 30, 2016, scheduled for August 4, 2016. While the filing itself does not contain detailed financial results, it signals a modification in how the company communicates its financial performance to investors, focusing on how certain non-GAAP metrics will be presented going forward.
Key Highlights
- 1Company announced changes to its use of non-GAAP financial measures.
- 2The changes will be implemented starting with the Q1 2016 earnings release.
- 3The Q1 2016 earnings report was scheduled for August 4, 2016.
- 4The filing is primarily a Regulation FD disclosure regarding this reporting change.
- 5No new financial results are reported in this specific 8-K filing.
- 6The press release detailing these changes is attached as an exhibit.
Frequently Asked Questions
The primary purpose of this 8-K filing is to inform investors about changes Take-Two Interactive Software, Inc. is making to how it presents non-GAAP financial measures in its earnings releases. This is a disclosure under Regulation FD.
The changes to the use of non-GAAP financial measures took effect starting with the company's earnings release for the first fiscal quarter ended June 30, 2016, which was scheduled to be reported on August 4, 2016.
No, this 8-K filing does not include the actual financial results for the first fiscal quarter ended June 30, 2016. It only announces the change in how non-GAAP financial measures will be presented in future earnings releases.
More details regarding the changes in the use of non-GAAP financial measures are available in the press release dated August 2, 2016, which is attached as Exhibit 99.1 to this 8-K filing.