Take-Two Interactive (TTWO) Stock Falls on Earnings Miss
Source: rafapress | Shutterstock.com Integrated into the pop-culture landscape with compelling franchises like Grand Theft Auto and Red Dead Redemption, video game publisher Take-Two Interactive (NASDAQ: TTWO ) is now under fire. TTWO stock plunged in the extended session after disappointing fiscal first-quarter results on Monday. Now, shares are still struggling as management points to macroeconomic conditions and geopolitical events weighing down on the business. For Q1, Take-Two Interactive reported a net loss of $104 million, or 76 cents per share. From a non-GAAP earnings standpoint, the company posted 71 cents per share, below the consensus estimate of 87 cents . Net bookings increased 41% on a year-over-year (YOY) basis to $1 billion. However, this tally also missed expectations; analysts had expected $1.11 billion. Unfortunately, management just brought more bad news to the table for TTWO stock investors, too. The company says fiscal 2023 adjusted earnings per share will be between $4.60 and $4.85 per share.
Take-Two Interactive (TTWO) Stock Falls on Earnings Miss
Source: rafapress | Shutterstock.com Integrated into the pop-culture landscape with compelling franchises like Grand Theft Auto and Red Dead Redemption, video game publisher Take-Two Interactive (NASDAQ: TTWO ) is now under fire. TTWO stock plunged in the extended session after disappointing fiscal first-quarter results on Monday. Now, shares are still struggling as management points to macroeconomic conditions and geopolitical events weighing down on the business. For Q1, Take-Two Interactive reported a net loss of $104 million, or 76 cents per share. From a non-GAAP earnings standpoint, the company posted 71 cents per share, below the consensus estimate of 87 cents . Net bookings increased 41% on a year-over-year (YOY) basis to $1 billion. However, this tally also missed expectations; analysts had expected $1.11 billion. Unfortunately, management just brought more bad news to the table for TTWO stock investors, too. The company says fiscal 2023 adjusted earnings per share will be between $4.60 and $4.85 per share.