Take-Two Interactive (TTWO) has issued its earnings report for Q1 2024. With earnings falling below estimates, the company has adjusted its earnings forecast for the next quarter. However, despite this, the publisher believes it has a strong slate of games lined up for the future.
According to Barrons, Take-Two had initially expected to report $1.5 billion USD in net revenue for the upcoming Q2 2024. That number has since been adjusted to $1.40-1.45 billion in the wake of Tuesday's Q1 2024 earnings report.
Take-Two's projections for Q2 2024 are based on the upcoming release of NBA 2K24. It's also based on the release of Red Dead Redemption on Nintendo Switch and PlayStation 4, which was a surprise announcement that came earlier this week. Rockstar's western action game will release later this month on digital storefronts with physical releases available in October.
The Barrons report also notes a quote from Strauss Zelnick lauding Take-Two's upcoming lineup. Beyond Q2 2024, the company has already announced Judas from the former BioShock team, WWE 2K24, and Project Bloom from Pokemon studio Game Freak.
We'll continue to watch Take Two for any further news. We'll also be watching the Take-Two Q1 2024 earnings call and Q&A later today. Be sure to tune in to the Shacknews YouTube channel to watch it live and on demand.