- The stock price of Take-Two Interactive (NASDAQ: TTWO) fell by over 3% during after-hours trading. This is why it happened.
The stock price of Take-Two Interactive (NASDAQ: TTWO) fell by over 3% during after-hours trading. Investors responded negatively to Take-Two Interactive Software revealing in its first-quarter earnings announcement that it will be delaying key titles and the company reiterated guidance for the current fiscal year.
The net bookings from recurrent consumer spending declined 25% and accounted for 69% of total net bookings. Strauss Zelnick, Chairman and CEO of Take-Two, said that two of the company’s immersive core titles are shifting to later in fiscal 2022 than contemplated by the prior guidance.
For Q2 2022, Take-Two is forecasting revenue of somewhere between $815 million to $865 million. The GAAP net income increased 72% to $152.3 million, or $1.30 per diluted share, as compared to $88.5 million, or $0.77 per diluted share, for the comparable period last year.
For the fiscal year ending March 31, 2022, net bookings (operational metric) are expected to range from $3.2 to $3.3 billion. During the fiscal first quarter of 2022, the total Net Bookings declined 29% to $711.4 million as compared to $996.2 million during last year’s fiscal first quarter.
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