Video game publisher Take-Two Interactive Software Inc. (TTWO) Monday reported an increase in profit for the first quarter. Shares of the company dropped 4% in the after-hours as the outlook fell short of Street View.
The net income for the quarter was $152.25 million or $1.30 per share, compared to $88.50 million or $0.77 per share last year. However, the revenue decreased 3% to $813.34 million, up from $831.31 million in 2020. Analysts polled by Thomson Reuters expected earnings of $0.89 per share for the quarter with revenues of $689.22 million.
Looking forward to the second quarter, the company expects revenue to be between $740 million to $790 million and earnings of $0.35 to $0.45 per share. Analysts currently estimate revenues of $878.25 million and an earning of $1.36 per share for the second quarter.
The company maintained its full year outlook. The revenue is expected to be $3.14 billion to $3.24 billion with earnings in the range of $1.95 to $2.20 per share. Analysts currently estimate earnings of $4.72 per share and revenues of $3.45 billion.
"For the year, we are reiterating our outlook, as there has been some movement in our release schedule, including two of our immersive core titles shifting to later in fiscal 2022 than contemplate our prior guidance. As we deliver on our expansive multi-year pipeline, we believe that we will achieve sequential growth in fiscal 2023 and establish new record levels of operating results over the next few years," said Strauss Zelnick, chairman and CEO of the company.
The shares are currently trading in the after-hours market at $167.38, down $5.83 or 3.37%. Take-Two closed at $173.21 in the regular market, down $0.21 or 0.12%.
For comments and feedback contact: editorial@rttnews.com
Business News
April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.