Connect with us

CWEB Business News

Take-Two Interactive Software Shares Down 3 percent on Q1 EPS Miss

Take-Two Interactive Software, Inc. (NASDAQ:TTWO) shares closed more than 3% lower on Tuesday following the company’s reported Q1 results, with EPS of ($0.76) significantly missing the Street estimate of $0.87. Revenue came in at $1.1 billion, slightly better than the Street estimate of $1.09 billion.
The company expects Q2/23 EPS to be in the range of ($0.96)-($0.86), and revenue in the range of $1.37-1.42 billion. For the full 2023-year, the company expects EPS in the range of ($2.75)-($2.50), and revenue in the range of $5.73-5.83 billion.
With more uncertainty removed around the 2023 slate and ZNGA contribution removed, analysts at Oppenheimer said they are more comfortable buying TTWO shares post Q1 results.
The analysts believe content strength ultimately drives net bookings and profit growth, in spite of the tough macro setup. According to the analysts, the company remains a leading publisher of best-in-class content across platforms, with a superior content pipeline in the next two years. The analysts maintained their outperform rating and $180 price target on the company’s shares.

Follow us on Google news for more updates and News

Full Disclaimer

More in CWEB Business News



Get the most important news and analyses for Free.

Thank you for subscribing.

Something went wrong.