Take-Two Offers Downbeat Revenue Guidance, Overshadowing Earnings Beat
Take-Two Interactive Software, Inc. (TTWO) shares fell in after-hours trading Thursday, after the video-game maker offered revenue guidance for the holiday season below analyst estimates.
Take-Two projected sales of $860 million to $910 million for its fiscal third quarter. Analysts surveyed by FactSet had been expecting the company to take in $925.2 million.
The stock fell $6.91, or 6% to $110 in after-hours action.
The forecast overshadowed results for the just-completed quarter that topped analyst estimates.
Take-Two said it earned $1.93 a share on sales of $950.5 million in its fiscal second quarter. Analysts surveyed by FactSet had expected it to make $1.70 a share on sales of $926.1 million.