Take-Two Interactive (TTWO)

Aug 9, 2023Trade Ideas

Weakness looks interesting at Take-Two Interactive (TTWO).

While the stock did slip on earnings, the company did cite a “powerful release schedule” that could send TTWO higher again.  

According to Barron’s, “For its first quarter of fiscal 2024, Take-Two’s non-GAAP earnings were 27 cents a share, below Wall Street’s consensus estimate of 33 cents. Net bookings, a form of adjusted revenue preferred by videogame analysts, met expectations at $1.2 billion. For the fiscal second quarter, the firm’s outlook implies non-GAAP earnings between 95 cents a share and $1.05 a share, compared with Wall Street’s consensus estimate at $1.16.” 

However, as the company noted in May, it expects to see net bookings in fiscal 2025 of $8 billion.  That’s well ahead of expectations for $5.28 billion, and could be a sign that we may be nearing the release of Grand Theft Auto VI.  Also, according to CEO Strauss Zelnick, those numbers reflect a “powerful, powerful release schedule.”

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