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T2 TAKE - TWO INTERACTIVE Take - Two Interactive Software , Inc. Reports Strong Results for Fiscal Third Quarter 2021 February 8 , 2021 GAAP net revenue was $ 860.9 million GAAP net income per diluted share increased 10 % to $ 1.57 GAAP net cash provided by operating activities for the nine - months ended December 31 , 2020 increased 79 % to $ 787.7 million Adjusted Unrestricted Operating Cash Flow ( Non - GAAP ) for the nine - months ended December 31 , 2020 increased 56 % to $ 854.3 million Net Bookings were $ 814.3 million Company again raises outlook for fiscal year 2021 , including record Net Bookings NEW YORK -- ( BUSINESS WIRE ) -- Feb . 8 , 2021-- Take - Two Interactive Software , Inc. ( NASDAQ : TTWO ) today reported strong results for its fiscal third quarter 2021 ended December 31 , 2020. In addition , the Company provided its initial outlook for its fiscal fourth quarter ending March 31 , 2021 and again increased its outlook for the fiscal year 2021 , ending March 31 , 2021. For additional information , please see the fiscal third quarter 2021 results slide deck posted to the Company's investor relations website at http://ir.take2games.com . Fiscal Third Quarter 2021 Financial Highlights GAAP net revenue was $ 860.9 million , as compared to $ 930.1 million in last year's fiscal third quarter . Recurrent consumer spending ( which is generated from ongoing consumer engagement and includes virtual currency , add - on content and in - game purchases ) increased 57 % and accounted for 62 % of total GAAP net revenue . The largest contributors to GAAP net revenue in fiscal third quarter 2021 were NBA® 2K21 and NBA 2K20 ; Grand Theft AutoⓇ Online and Grand Theft Auto V ; Red Dead Redemption 2 and Red Dead Online ; Social Point's mobile offerings ; the Mafia : Definitive Editions and Mafia : Trilogy ; Borderlands @ 3 ; the WWEⓇ series ; and Sid Meier's Civilization VI . Digitally - delivered GAAP net revenue increased 4 % to $ 728.5 million , as compared to $ 700.3 million in last year's fiscal third quarter , and accounted for 85 % of total GAAP net revenue . The largest contributors to GAAP digitally - delivered net revenue in fiscal third quarter 2021 were NBA 2K20 and NBA 2K21 ; Grand Theft Auto Online and Grand Theft Auto V ; Red Dead Redemption 2 and Red Dead Online ; Social Point's mobile offerings ; Borderlands 3 ; the Mafia Definitive Editions and Mafia : Trilogy ; the WWE series ; and Sid Meier's Civilization VI . GAAP net income increased 11 % to $ 182.2 million , or $ 1.57 per diluted share , as compared to $ 163.6 million , or $ 1.43 per diluted share , for the comparable period last year . GAAP net income included the favorable impact of a gain on long - term investments of approximately $ 40.6 million due to the sale of a portion of one of our investments and the resulting increase in value of the remaining portion of that investment . During the nine - month period ended December 31 , 2020 , GAAP net cash provided by operating activities increased 79 % to $ 787.7 million , as compared to $ 440.0 million in the same period last year . During the nine - month period ended December 31 , 2020 , Adjusted Unrestricted Operating Cash Flow ( Non - GAAP ) , which is defined as GAAP net cash from operating activities , adjusted for changes in restricted cash , increased 56 % to $ 854.3 million , as compared to $ 547.9 million in the same period last year ( please see the section below titled " Non - GAAP Financial Measure " for additional information ) . As of December 31 , 2020 , the Company had cash and short - term investments of $ 2.42 billion . Included in our restricted cash as of December 31 , 2020 was the cash portion of our offer to acquire Codemasters Group Holdings PLC ( " Codemasters " ) , a UK - based game publisher and developer . As of January 13 , 2021 , the offer lapsed , and the cash was no longer restricted . The following data , together with a management reporting tax rate of 16 % , are used internally by the Company's management and Board of Directors to adjust the Company's GAAP financial results in order to facilitate comparison of its operating performance between periods and to better understand its core business and future outlook : $ in thousands Three Months Ended December 31 , 2020 Change in Statement deferred net of revenue operations and related cost of Financial Data Stock - based compensation Impact of business reorganization Business acquisition Amortization & impairment of acquired intangible assets Gain on long term investments , net