Interactive software Take-Two
missed December quarter earnings expectations and cut its outlook for the second time this fiscal year. CEO Strauss Zelnick says Barron’s Inflation and weakness in the economy make players more careful with their spending, which affects sales of in-game items.
Take-Two (ticker: TTWO) reported a net loss for its fiscal third quarter of $153.4 million, or 91 cents a share, on net reservations of $1.38 billion. The consensus among analysts polled by FactSet was a net loss of 85 cents a share and bookings — a form of adjusted revenue — of $1.46 billion. Non-GAAP earnings were 86 cents a share, below adjusted earnings expectations of 89 cents a share.
