Take-Two Interactive Software Inc. shares sought direction in the extended session Tuesday after the videogame publisher missed on results and lowered its outlook, while reminding gamers that the next iteration of “Grand Theft Auto” is right around the corner.
Take-Two TTWO, also known for its “Red Dead Redemption” franchise under its Rockstar Games label, along with its “Borderlands” and “NBA2K” games under its 2K label, forecast a second-quarter loss of $1 to 90 cents a share on revenue of $1.26 billion to $1.31 billion...
For the year, Take-Two forecast a loss of $3.20 to $2.95, down from a previous range of $3.05 to $2.80 a share, on an unchanged revenue of $5.37 billion to $5.47 billion and net bookings of $5.45 billion to $5.55 billion. For fiscal 2024, the Street estimates an unadjusted loss of $2.61 a share on revenue of $5.51 billion and net bookings of $5.56 billion.
“We remain confident that we are positioning our business for a significant inflection point in fiscal 2025, which we believe will include new record levels of operating performance,” Zelnick said.
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