Take-Two Interactive (TTWO.US) lost over 10.0% during today's session after the videogame lowered its financial outlook for the year. Company's CEO Strauss Zelnick said weaker mobile and in-game sales had a negative impact on the quarterly figures.
-
Company known for many iconic games including “Grand Theft Auto” and its “NBA 2K” series recorded quarterly loss of $1.54 per share , which is a massive disappointment compared to earnings of 6 cents per share recorded in the same period of the year prior.
-
Revenue rose 63.0% to $1.4 billion, however failed to beat analysts’ estimates of $1.55 billion.
-
For the full fiscal year of 2023 company forecasts losses per share in the region from $4.22 to $3.95 and revenue of $5.41 to $5.51 billion, well below market expectations of $5.89 billion for the year.
-
“Our reduced forecast reflects shifts in our pipeline, fluctuations in FX rates, and a more cautious view of the current macroeconomic backdrop, particularly in mobile,” Take-Two CEO Strauss Zelnick said in a statement.
-
Take Two expects to end a fiscal year on March 31, 2023 with a net loss between $674 million to $631 million, which is significantly worse compared to Q1 guidance when the company expected a net loss between $438 million to $398 million.
Detailed quarterly results. Source:alphastreet.com
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app
Before the latest quterly report, the company has a strong buy consensus based on 20 analysts ratings - 15 buys, 5 holds, 0 sells, with an average price target at $164.00. Source: Tipranks.com
Take-Two Interactive (TTWO.US) stock is trading around 55.0% below its all-time high from February 2021 at $215.30. Only during today's session stock fell over 15.0%, however buyers became more active in the evening and erased some losses. Nevertheless as long as the current sentiment prevails, price may be heading towards key support at $85.00, where lows from 2019 are located. Source: xStation5
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
