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Take-Two Interactive (TTWO) Q1 2024 earnings results miss EPS estimates on in-line revenue

Take-Two Interactive's quarterly revenue was on-par with estimates, but earnings came in under.

Donovan Erskine

August 8, 2023 1:40 PM

Take-Two Interactive

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Markets have closed for the day and Take-Two Interactive (TTWO) has published its earnings report for Q1 2024, giving investors and financial spectators a clear idea of how the company performed in the first quarter of its fiscal year. It’s an earnings miss for Take-Two, but revenue numbers are right in-line with analyst expectations.

The figures come from Take-Two Interactive’s recently published Q1 2024 earnings report. It shows that the company’s revenue for the latest quarter was $1.2 billion, which is precisely what Wall Street had been anticipating ahead of the release. It was a different story for earnings, though. The video game company brought in $0.38 per-share during the period, which is a bit lower than the $0.42 expectation from Wall Street.

"We had a strong start to the fiscal year and achieved Net Bookings of $1.2 billion, which was at the high end of our expectations. Our performance was led by our catalog of iconic, industry-leading intellectual properties, which continues to resonate with our player communities worldwide," said Strauss Zelnick, Chairman and CEO of Take-Two. "Our core business trends remain healthy, and we are reiterating our prior guidance of $5.45 to $5.55 billion in Net Bookings for Fiscal 2024. Our teams are making excellent progress on our strategic focus areas, including the advancement of our eagerly-anticipated development pipeline and capitalizing on our revenue-driven opportunities and synergies, all while maintaining a deep focus on efficiency."

Take-Two Interactive (TTWO) stock was quite active after the release of its earnings report, climbing to $145.24 before hitting as low as $140.14 as the financial world processed the news. In other relevant earnings news, today also saw Rivian publish its latest earnings report.

Donovan Erskine

News Editor

Donovan is a journalist from Maryland. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge film fanatic and will talk with you about movies and games all day. You can follow him on twitter @Donimals_