01—Abstract
Summary
Summary of the 8-K filed August 2, 2016. Cited figures are marked; the original filing is the authoritative source.
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.
02—Key points
Key Highlights
- Company announced changes to its use of non-GAAP financial measures.
- The changes will be implemented starting with the Q1 2016 earnings release.
- The Q1 2016 earnings report was scheduled for August 4, 2016.
- The filing is primarily a Regulation FD disclosure regarding this reporting change.
- No new financial results are reported in this specific 8-K filing.
- The press release detailing these changes is attached as an exhibit.
03—Questions
Frequently Asked Questions
What is the main purpose of this 8-K filing?
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.
When do these changes in financial reporting take effect?
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.
Does this filing include the company's Q1 2016 financial results?
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.
Where can I find more details about these changes?
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.
04—Continue