Take-Two Interactive Software (TTWO) Misses Q4 EPS, Revenue Beats
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Take-Two Interactive Software (NASDAQ: TTWO) reported Q4 Non-GAAP EPS of $0.51, which may not compare to the analyst estimate of $0.69. Net bookings for the quarter came in at $1.39 billion versus the consensus estimate of $1.35 billion.
Take-Two Interactive Software sees FY2024 net bookings of of $5.45-5.55 billion, versus the consensus of $6.08 billion.
“We finished fiscal 2023 with momentum. Our fourth quarter Net Bookings were $1.4 billion, above the high end of our guidance range, driven by Grand Theft Auto V and Grand Theft Auto Online, Red Dead Redemption 2, and Zynga’s mobile portfolio,” said Strauss Zelnick, Chairman and CEO of Take-Two.
"We also issued guidance for Fiscal 2024, which includes Net Bookings in the range of $5.45 to $5.55 billion. Our forecast reflects the challenging consumer backdrop, as well as an extension of the development timelines for several high-profile, long-awaited titles in our pipeline. We believe that we will enter our next phase of growth in Fiscal 2025, as we plan to deliver several groundbreaking titles that we anticipate will set new standards of quality and success and enable us to deliver over $8 billion in Net Bookings and over $1 billion in Adjusted Unrestricted Operating Cash Flow. We expect to sustain this momentum with additional growth in operating performance in Fiscal 2026."
"After numerous years of investment and creative development, we are excited about this next chapter for Take-Two. As we execute on our strategy and release what we expect will be an array of hit titles, we believe that we will grow our scale and margins, generating industry-leading returns for our shareholders."
For earnings history and earnings-related data on Take-Two Interactive Software (TTWO) click here.
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