Take-Two Interactive Software Inc (NASDAQ: TTWO), on Monday, reported weaker-than-expected results for its fiscal Q3 and lowered its guidance for the future. Shares are still keeping their own in after-hours.
Take-Two’s guidance for the future
For its current quarter, the video game holding company now forecasts $1.31 billion to $1.36 billion of net bookings. Experts had forecast a much higher $1.5 billion instead.
តើអ្នកកំពុងស្វែងរកព័ត៌មានរហ័សព័ត៌មានជំនួយក្តៅនិងការវិភាគទីផ្សារមែនទេ?
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It’s full-year outlook also fell shy of estimates. Still, CFRA’s John Freeman said on Yahoo Finance:
The glow of the heightened engagement we saw post-COVID has faded. But longer-term, I have a lot of confidence in immersive, protometaverse type games like GTA.
យក-ពីរភាគហ៊ុន are roughly flat for the year at writing.
Take-Two Interactive to lower costs
Take-Two Interactive also announced a cost reduction programme in pursuit of lowering its annual expense by $50 million. According to Freeman, he likes the stock from the valuation standpoint as well.
If you’re a long-term, patient investor who can ride the ups and downs of the video game industry, then I think Take-Two shares are really attractive.
Take-Two expects annual cost synergies worth $100 million from its recent acquisition of Zynga as well (ប្រភព) – but Freeman is concerned that it may run into “integration issues”.
Take-Two shares down on weak Q3 results
- បាត់បង់ 153.4 លានដុល្លារដែលបកប្រែទៅជា 91 សេនក្នុងមួយហ៊ុន
- នោះធៀបនឹង 144.6 លានដុល្លារនៃប្រាក់ចំណូលសុទ្ធកាលពីឆ្នាំមុន
- បោះពុម្ព EPS ដែលបានកែតម្រូវនៅ 86 សេន សេចក្តីប្រកាសព័ត៌មាន
- Total net revenue jumped 56% YoY to $1.41 billion
- Consensus was 89 cents EPS on $1.48 billion in revenue
- Net bookings were up a less than expected 60% in Q3
Take-Two Interactive attributed the weakness this quarter primarily to the console side of its business. Still, CFRA’s Freeman noted:
I think console is still relevant. It does bring those immersive games that the real hardcore gamers get into. You don’t get that kind of immersive experience from a mobile game.
Wall Street has a consensus “overweight” rating on this ភាគហ៊ុនបច្ចេកវិទ្យា។
Source: https://invezz.com/news/2023/02/07/take-two-shares-attractive-weak-guidance/