Take-Two projects third-quarter bookings below estimates
TTWO•Take-Two expects current-quarter bookings of $3.35 billion to $3.50 billion, below analysts’ average estimate of $3.51 billion, while maintaining its annual forecast of $8 billion to $8.20 billion. Second-quarter bookings fell 18% to $1.60 billion, missing estimates of $1.67 billion.
1. Quarterly outlook
Take-Two Interactive projected current-quarter bookings of $3.35 billion to $3.50 billion, below analysts’ average estimate of $3.51 billion. The company maintained its annual bookings forecast of $8 billion to $8.20 billion.
2. Second-quarter results
For the quarter ended September 30, total bookings fell 18% to $1.60 billion, missing estimates of $1.67 billion. Shares fell about 4% in extended trading.
3. GTA VI expectations
Take-Two is banking on “GTA VI” to drive bookings and revenue in coming quarters. The title is set to reach players on November 19; Sensor Tower data showed about 7.71 million digital pre-orders worldwide as of Nov. 3, with estimated gross revenue above $750 million.
