Take-Two stock falls after earnings, weak guidance

Discussion in 'Market News' started by sniper-academy, May 17, 2018.

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  1. sniper-academy

    sniper-academy Administrator Staff Member

    Sep 30, 2011
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    Take-Two Interactive Software Inc. shares were halted at the bell and then fell more than 6% after hours when trading resumed Wednesday. The videogame publisher missed the revenue forecast and provided weaker-than-expected guidance. Take-Two shares closed down a fraction to $113.07 during the regular session. The company reported fiscal fourth-quarter net income of $90.8 million, or 77 cents a share, compared with $99 million, or 89 cents a share, in the year-ago period. Revenue rose to $450.3 million from $571.6 million in the year-ago period; the company reported net bookings of $411.4 million compared to $407.1 million in the year-earlier period. Analysts surveyed by FactSet had estimated earnings of 77 cents a share on net bookings of $444 million. For the fiscal first quarter, analysts model net bookings of $371 million. The company said it expects earnings of 53 cents to 63 cents a share on net bookings of $215 million to $265 million and net revenue of $345 million to $395 million. Take-Two stock has gained 2.6% this year, with the S&P 500 index rising 1.4%.

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