Published , by TJ Denzer
Published , by TJ Denzer
Among tech companies reporting their earnings results for the quarter, Take-Two Interactive was one of the latest on the block today. It finished up its Q3 2023 and put out the earnings results today. Unfortunately, Take-Two didn’t have a lot of good news to report. It fell short of both revenue and earnings-per-share (EPS) expectations, followed by lowering its guidance for the remainder of its FY2023.
Take-Two Interactive posted its Q3 2023 earnings results on its investor relations website on February 6, 2023. In said earnings results, Take-Two Interactive shared that its Q3 revenue ended up at $1.41 billion USD. This was shy of the $1.5 billion that analysts expected the company to end up with by the end of the quarter. Meanwhile, over on the earnings-per-share side, Take-Two put up an EPS loss of $0.91 per share. This was a complete failure from the positive $0.88 per share that analysts expected out of the company in Q3 2023.
The stark loss on EPS is notable enough, but Take-Two Interactive would then go on to lower its guidance for the remainder of its FY2023. The company lowered revenue expectations for FY23 from the original expectation of $5.4 billion down to a new expectation ranging from $5.24 billion to $5.29 billion USD.
Take-Two Interactive has continued to be driven by the release of titles such as Tiny Tina’s Wonderlands, as well as Marvel’s Midnight Suns. The company also continues to make money off the likes of GTA Online and the NBA 2K series. However, it hasn’t had a blockbuster hit to hang its hat on in the recent quarter.
With Take-Two Interactive also hosting a conference call today, stay tuned for more coverage from its Q3 2023, as well as further reporting from companies releasing their quarterly earnings results.