Take-Two Interactive Posts Top And Bottomline Misses, YoY Net Bookings Decrease, Issues Guidance

Take-Two Interactive Software, Inc. TTWO shares are trading higher after the company reported second-quarter financial results. Here's a summary of the details.

What To Know: Take-Two reported Net Bookings of $1.44 billion, a 4% decrease from $1.50 billion in the same period last year. Revenue of $1.3 billion missed estimates by $130 million, a 7% decline compared to the same period last year.

The company posted an earnings loss of $3.20 per share, missing estimates by $2.17.

Recurrent consumer spending decreased by 9%, which made up 77% of total net revenue.

The company reiterated its 2024 Net Bookings outlook of between $5.45 billion and $5.55 billion. Revenue is estimated to be between $5.37 billion and $5.47 billion.

Third-quarter Net Bookings are estimated to be between $1.30 billion and $1.35 billion while revenue is anticipated to be between $1.29 billion and $1.34 billion.

"Our strong second-quarter results, including Net Bookings of $1.4 billion, underscore the strength of our portfolio of iconic, industry-leading intellectual properties. During the period, our teams released new offerings, delivered engaging post-launch content, and advanced further the development of our eagerly-anticipated pipeline," said Strauss Zelnick, chairman and CEO of Take-Two.

Related Link: MGM Resorts International Beats The Street In Q3, Authorizes New Share Buyback Program

TTWO Price Action: Shares of TTWO were up 1.41% at $145.50 in the after-hours session at the time of publication, according to Benzinga Pro.

Photo: 11333328 from Pixabay