Take-Two Interactive Software Earnings: Here’s Why Investors are Excited Now
Take-Two Interactive Software Inc. (NASDAQ:TTWO) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.24%.
Take-Two Interactive Software Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.54 in the quarter versus EPS of $-1.16 in the year-earlier quarter.
Revenue: Decreased 36.19% to $144.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Take-Two Interactive Software Inc. reported adjusted EPS loss of $0.54 per share. By that measure, the company beat the mean analyst estimate of $-0.57. It beat the average revenue estimate of $124.68 million.
Quoting Management: “Our better-than-expected first quarter results demonstrate that the market remains strong for the highest-quality interactive entertainment,” said Strauss Zelnick, Chairman and CEO of Take-Two. “We continue to benefit from robust demand for our recent genre-leading releases, iconic catalog titles and growing portfolio of innovative digitally delivered offerings.”
Key Stats (on next page)…
Revenue decreased 51.82% from $299.49 million in the previous quarter. EPS decreased to $-0.54 in the quarter versus EPS of $0.38 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $1.52 to a profit $1.57. For the current year, the average estimate has moved up from a profit of $2.26 to a profit of $2.35 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)