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Take-Two Interactive Software program (NASDAQ:TTWO) has slipped 10.6% postmarket after its fiscal second-quarter earnings: the primary full quarter after including Zynga, the place it missed consensus for earnings and guided beneath expectations for holiday-quarter and fiscal-year bookings.
Complete bookings got here in at $1.5B – up 53% as a result of Zynga comparability, however in need of expectations for $1.54B.
It was the outlook that is lacking forecasts by additional: Take-Two is guiding for web bookings within the all-important vacation quarter of $1.41B-$1.46B, vs. consensus for $1.69B, and for the total fiscal yr, it is forecasting bookings of $5.4B-$5.5B vs. expectations for $5.89B.
“Our diminished forecast displays shifts in our pipeline, fluctuations in FX charges, and a extra cautious view of the present macroeconomic backdrop, notably in cell,” says CEO/Chairman Strauss Zelnick.
He did reward “wonderful progress” on the Zynga integration, and “we stay extremely optimistic in regards to the huge, long-term progress potential for the cell trade, which is anticipated to achieve over $160B in gross bookings throughout the subsequent 4 years.”
GAAP earnings per share got here in at $1.54. In non-GAAP measures, earnings earlier than interst, taxes, depreciation and amortization (with deferral changes) was $166M.
Convention name to come back at 4:30 p.m. ET.
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