Take-Two Interactive Software Inc. Down 11.91% To $95.66 After Earnings Miss

Take-Two Interactive Software Inc. (TTWO) said after close Monday that it earned $1.3 per share in quarter two 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $1.5 billion, missing estimates by $45 million.

In the same quarter a year ago, the company earned $1.63 per share on revenue of $984.9 million. The company reported revenue on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

The stock is down 11.91% to $95.66 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Take-Two Interactive Software Inc. has performed a little below average during the past few months. Before the report, Take-Two Interactive Software Inc. received a Long-Term Technical Rank by InvestorsObserver of 28, putting it in the bottom half of stocks. The firm set a 52-week low on May 10, 2022 at $101.85 and set a 52-week high on November 9, 2021 at $189.89.

Founded in 1993, Take-Two consists of two wholly owned labels, Rockstar Games and 2K. The firm is one of the world's largest independent video game publishers on consoles, PCs, smartphones, and tablets. Take-Two's franchise portfolio is headlined by "Grand Theft Auto" (345 million units sold) and contains other well-known titles such as "NBA 2K," "Civilization," "Borderlands," "Bioshock," and "Xcom.".