Take-Two Interactive Earnings: TTWO Stock Slides on Net Bookings Miss

The stock gained about 1% after hours

Take-Two Interactive (NASDAQ:TTWO) unveiled its latest quarterly earnings results late on Monday, bringing in figures that did not live up to what analysts called for, yet TTWO stock increased after hours.

Take-Two Interactive EarningsThe New York-based video game holding business said that for its fourth quarter of the most recent fiscal year, it compiled net income of $56.8 million, or 50 cents per share, marking a decline from its year-ago net income of $91 million, or 77 cents per share.

Take-Two Interactive added that its revenue for the period amounted to $539 million, which did mark an increase of about 19.8% when compared to its year-ago sales of $450 million. The brand also posted net bookings of $488.4 million, an 18.7% surge when compared to the year-ago period.

Analysts were calling for the company to bring in adjusted earnings of 75 cents per share, as well as net bookings of $507 million, according to data compiled from a FactSet survey. For the first quarter of the new fiscal year, analysts predict Take-Two will bring in adjusted earnings of 39 cents per share on net bookings of $421 million.

Wall Street predicts full-year adjusted earnings of $4.89 per share on net bookings of $2.8 billion. The company sees its first-quarter as bringing in earnings of 65 cents to 75 cents per share on bookings of $310 million to $360 million.

TTWO stock is down about 0.8% after the bell on Monday off the back of underwhelming quarterly results. Shares had been sliding roughly 3.3% during regular trading hours in anticipation of Take-Two’s financial figures.

Article printed from InvestorPlace Media, https://investorplace.com/2019/05/take-two-interactive-earnings-ttwo-stock/.

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