[ad_1]
Shares of Take-Two Interactive Software Inc. Today, the online stock price of NASDAQ: TTWO. The stock has fallen 31% over the past 12 months. The company is scheduled to report its third quarter 2023 earnings results on Monday, February 6th. Here’s what to expect from the upcoming report:
results
Take-Two has guided for a net profit of $1.43-1.48 billion for the third quarter of 2023. The company reported revenue of $903.3 million in the third quarter of 2022 and $1.4 billion in the second quarter of 2023. Analysts predict revenue of $1.45 billion for Q3 2023.
earnings
For Q3 2023, Take-Two expects a net loss of $160-142 million and a loss per share of $0.95-0.85. In the year-ago quarter, the company reported net income of $144.5 million, or $1.24 per share. In Q2 2023, the net loss was $257 million, or $1.54 per share. Analysts project EPS of $0.87 for Q3.
net order
Take-Two expects net orders for the third quarter of 2023 to be between $1.41-1.46 billion. This compares to net orders of $866.1 million in Q3 2022 and $1.5 billion in Q2 2023.
Points to note
During the second quarter of 2023, the popularity of Take-Two’s main franchise is like NBA2K22 and NBA2K23, Grand Theft Autoand Red Dead Redemption helped drive 62% growth in revenue. Toon Blast, Toy Blast, and Rollic’s hyper-casual portfolio that came with Zynga also contributed to top line growth. Continuous consumer spending, which results from continuous consumer engagement and includes virtual currency and in-game purchases, increased 95% in Q2.
Net bookings grew 53% in Q2, driven by the franchise. The casual mobile portfolio of NBA 2K and Rollic performed better than expected despite softness in other parts of the portfolio. The Street’s biggest concern is the impact of the challenging macroeconomic environment on the video game industry.
Take-Two expects continued consumer spending to grow by approx. 125% and net orders delivered digitally increased by around 80% in Q3 2023. The company’s forecast assumes that 72% of console game sales will be delivered digitally, up from 63% last year.
Despite economic uncertainty, Take-Two remains optimistic about its long-term development pipeline and new releases, which are expected to drive growth. It remains to be seen how the new releases have been implemented in the current economic environment.
Click here to read the full transcript of Take-Two Interactive Software’s Q2 2023 earnings conference call
[ad_2]
Source link