Take-Two Interactive (TTWO) lowers FY 2024 revenue forecast

Take-Two Interactive's forecast for the full fiscal year is well below analyst expectations.

Take-Two Interactive

Take-Two Interactive (TTWO), one of the gaming industry’s biggest publishers, has released its earnings report for Q3 2024. In addition to showing a beat on earnings and revenue, the company provided some guidance for the full fiscal year 2024. Despite a rather fruitful quarter, Take-Two has lowered its guidance for FY 2024.

Take-Two Interactive shared its updated guidance for the fiscal year in its Q3 2024 earnings report. While analysts were originally predicting $5.5 billion for Take-Two’s full-year revenue, the publisher is now forecasting somewhere in the range of $5.27 to $5.32 billion. The company particularly cites a decrease in sales of mobile ads and NBA 2K24 as leading causes for the change in outlook.

Take-Two Interactive's stock chart as of February 8, 2024

Despite the lowered guidance, there was still plenty of good news to be found in Take-Two’s latest report. This included the fact that Red Dead Redemption 2 has surpassed 61 million copies sold. Stick with Shacknews for the latest financial news out of the gaming business.

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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_

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