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Take-Two Interactive Q4 results: ‘we remain incredibly well-positioned’

on May 16, 2022
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  • Take-Two Interactive Inc reported its Q4 financial results on Monday.
  • The video game company gave weaker-than-expected future guidance.
  • Shares of Take-Two Interactive are down nearly 35% year-to-date.

Take-Two Interactive Software Inc (NASDAQ: TTWO) reported lower-than-expected sales for its fiscal Q4 on Monday. Shares are still up 3.0% after-hours despite weak guidance.

Key takeaways from Take-Two Interactive Q4 results

  • Net income printed at $111 million versus the year-ago figure of $218.8 million.
  • Per-share earnings of 95 cents were much lower than last year’s $1.88.
  • Revenue jumped 11% YoY to $930 million, as per the earnings press release.
  • At $845.8 million, bookings came in about 8.0% higher than the Q4 of fiscal 2021.
  • Consensus was for 65 cents of EPS, $897 million revenue, and $882.6 million bookings.

Earlier this year, Take-Two Interactive said its most sought-after title Grand Theft Auto VI will likely hit the market by early 2025. The stock is still down nearly 35% for the year.

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What Take-Two Interactive forecasts for fiscal 2023

For fiscal 2023, Take-Two forecasts its revenue to fall in the range of $3.67 billion to $3.77 billion on up to $2.15 of per-share earnings. It expects $3.75 billion to $3.85 billion in bookings this year.

This compares to analysts at $3.19 of EPS, $3.95 billion in revenue and bookings worth $4.15 billion. Investors, however, did not punish the softer guidance as it doesn’t include contributions from $12.7 billion Zynga acquisition. In the earnings press release, CEO Strauss Zelnick said:

We believe that Take-Two Interactive remains incredibly well-positioned to increase its scale and prominence in the industry, expand its margins, and deliver long-term value for our shareholders.

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