Take-Two posts better-than-expected earnings, stocks surge
For fiscal 2022, the firm forecasts revenue of $3.14 billion to $3.24 billion
Stocks impacted: Take-Two Interactive Software (TTWO)
Video game publisher said its revenue climbed 10% to $839.4 million in the fiscal 2021 fourth quarter ended March 31 from $760.5 million in the year-ago quarter. Net income rose to $218.812 million, or $1.88 a share. For fiscal 2022, Take-Two forecasts revenue of $3.14 billion to $3.24 billion and profit of $228 million to $257 million. In the accompanying statement, Take-Two’s chairman and chief executive, Strauss Zelnick, said they expect to achieve sequential growth in fiscal 2023, and over the next few years, they believe that they will establish new records of operating results even above the spectacular performance they delivered this past year. Over the past 12 months, Take-Two stocks have advanced 25%. Its shares are down 19.3% from the beginning of the year. It has fallen 14% in the past three months. The company’s stocks finished 0.32% lower on Tuesday but rose nearly 4% in the extended session following an initial dip.
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