Take Two Interactive Software (TTWO) Stock Soars on Q1 Earnings Beat

Advertisement

Take Two Interactive Software (NASDAQ:TTWO) reported its latest quarterly earnings results late in the day Thursday, posting earnings and bookings that came in ahead of what Wall Street was calling for in its outlook.

Take Two Interactive Software (TTWO)The video game company said that for its first quarter of fiscal 2019, it brought in earnings of $71.69 million, or 12 cents per share on an adjusted basis. Analysts were calling for the company to bring in earnings of 7 cents per share on an adjusted basis.

Take Two Interactive Software’s adjusted earnings during the year-ago quarter were$60.28 million, or 56 cents per share. The company also amassed bookings of $288.3 million for the period, well ahead of the $258.4 million that analysts were calling for.

The company’s revenue did fall compared to the year-ago quarter from $418.22 million to $387.89 million, a 7.2% decline. For its second quarter of the fiscal year, Take Two Interactive Software is calling for adjusted earnings of 85 cents per share, below the 89 cents per share that analysts predict.

Net bookings are slated to be around $525 million, below the $584 million that Wall Street is calling for. For the fiscal year 2019, the company is calling for earnings of $4.27 per share, below the $4.46 per share that analysts project.

Take Two Interactive Software’s bookings outlook for the year is $2.75 billion, below the $2.77 billion analyst forecast.

TTWO stock was skyrocketing about 9.8% after the bell on Thursday following the company’s strong quarterly earnings showing. Shares were up about 0.9% during regular trading hours in anticipation of the company’s results.


Article printed from InvestorPlace Media, https://investorplace.com/2018/08/take-two-interactive-software-ttwo-2/.

©2024 InvestorPlace Media, LLC