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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 young journalist from Maryland, who likes to game. 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 Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_