Take-Two Interactive Software (NASDAQ:TTWO) reported its Q1 earnings and outlook, which fell short of projections.
Take-Two posted a profit of 27 cents per share for Q1 with a revenue of $1.28 billion. This compares to the Street’s estimated earnings of 33 cents per share and a revenue figure of $1.22 billion. On a positive note, net bookings for the company were reported at $1.2 billion, reflecting a 20% growth year-over-year, aligning with Street estimates.
Take-Two expects an adjusted EPS of $1.00 for the current quarter and expects to post revenue of around $1.285 billion. The company’s midpoint net bookings estimate is $1.425 billion. However, these figures are below the analysts’ expectations, which were set at $1.46 billion for net bookings, an adjusted EPS of $1.15, and a revenue of $1.45 billion.
For the fiscal year of 2024, Take-Two forecasts its adjusted EPS to range between $3.00 and $3.25. They anticipate net bookings and revenue to be around $5.5 billion and $5.42 billion respectively. This again missed the consensus, which predicted an adjusted EPS of $3.52, net bookings of $5.57 billion, and a revenue estimate of $5.56 billion.