Take-Two Interactive (TTWO) lowers FY23 revenue & EPS guidance

Take-Two Interactive (TTWO), parent company of 2K Games and Rockstar Games, issued its Q3 2023 earnings results on Monday. While the publisher has a big year lined up, it has tempered its expectations slightly in the wake of today's earnings report. Revenue and EPS guidance numbers for the 2023 fiscal year ending March 31, 2023 have been lowered slightly to account for Monday's results.

Here are the major bullet points, as indicated by the Take-Two Q3 earnings report:

GAAP net revenue is expected to range from $5.24 to $5.29 billion
GAAP net loss is expected to range from $721 to $704 million
GAAP net loss per share is expected to range from $4.50 to $4.40
Share count used to calculate GAAP net loss per share is expected to be 159.8 million
Share count used to calculate management reporting diluted net income per share is expected to be 161.8 million
Net cash provided by operating activities is expected to be over $350 million
Adjusted Unrestricted Operating Cash Flow (Non-GAAP) is expected to be over $400 million
Capital expenditures are expected to be approximately $170 million
Net Bookings (operational metric) are expected to range from $5.2 to $5.25 billion
EBITDA (Non-GAAP) is expected to range from $386 to $406 million

Here are the Q4 2023 expectations:

GAAP net revenue is expected to range from $1.34 to $1.39 billion
GAAP net loss is expected to range from $214 to $197 million
GAAP net loss per share is expected to range from $1.27 to $1.17
Share count used to calculate GAAP net loss per share is expected to be 168.0 million
Share count used to calculate management reporting diluted net income per share is expected to be 169.2 million
Net Bookings (operational metric) are expected to range from $1.31 to $1.36 billion
EBITDA (Non-GAAP) is expected to range from $102 to $122 million

Source: Yahoo! Finance

Take-Two only has a small portion of its FY23 lineup revealed. The major releases on the horizon include WWE 2K23, After Us, and the early access version of Kerbal Space Program 2. Mobile versions of Grand Theft Auto: The Trilogy - The Definitive Edition, the current console generation versions of Marvel's Midnight Suns, and the upcoming Star Wars Hunters currently have undetermined release dates. Take-Two Interactive stock is down 3.4 percent at the end of trading on Monday and continues to fall in after hours trading.

More information is expected to come during Monday's Take-Two Interactive Q3 2023 earnings call, which will air at 1:30 p.m. PT/4:30 p.m. ET and can be viewed live on the Shacknews Twitch channel. We'll have our eye out for any breaking news, so keep it on Shacknews for any updates.