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Take-Two Posts Mixed Q2 Results, Shares Drop 3%
Nov 9, 2023 4:02 PM - Davit Kirakosyan(Last modified: Dec 19, 2023 5:49 PM)
Image credit: FMP
Take-Two Interactive Software (NASDAQ:TTWO) reported mixed results for its second quarter on Wednesday but maintained its full-year outlook and expressed confidence in its positioning for the upcoming holiday season. Following the results, shares rose more than 3% intra-day today.
The video game company posted a quarterly loss of $3.20 per share, with revenue reaching $1.44 billion. This compares to Wall Street's expectations of a $1.03 earnings per share on revenue of $1.43 billion.
Looking ahead to the third quarter, Take-Two forecasts a loss per share ranging from $0.73 to $0.63 and revenue between $1.29 billion and $1.34 billion. These projections stand in contrast to analysts' expectations, which anticipate an earnings per share of $0.93 and higher revenue of $1.43 billion.
Despite the prevailing economic uncertainties, Take-Two reiterated its net bookings guidance for the fiscal year 2024, expecting them to be between $5.45 billion and $5.55 billion, and projecting revenues to range from $5.37 billion to $5.47 billion.
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