Take-Two Interactive’s Q4 2023 Results: Key Earnings Highlights Revealed by AlphaStreet

Take-Two Interactive Software, Inc. (TTWO) recently released its Q4 2023 earnings report, revealing some key highlights that have caught the attention of investors and analysts alike. The report, which was released on May 18, 2023, showed that the company had exceeded expectations in terms of revenue and earnings per share (EPS).

According to the report, Take-Two Interactive’s net revenue for the quarter was $1.5 billion, which is a 23% increase from the same period last year. This figure was also higher than the company’s own guidance, which had predicted net revenue of between $1.35 billion and $1.45 billion. The company attributed this growth to strong sales of its popular video game franchises, including Grand Theft Auto, Red Dead Redemption, and NBA 2K.

In addition to strong revenue growth, Take-Two Interactive also reported impressive earnings per share (EPS) figures. The company’s EPS for the quarter was $1.30, which is a significant increase from the $0.77 EPS reported in Q4 2022. This figure also exceeded the company’s own guidance, which had predicted EPS of between $1.00 and $1.20.

Take-Two Interactive’s CEO, Strauss Zelnick, commented on the company’s strong performance in a press release accompanying the earnings report. “We are thrilled with our Q4 results, which demonstrate the continued strength of our portfolio of franchises and our ability to deliver engaging entertainment experiences to our fans,” he said.

The company’s strong performance in Q4 2023 has also led to increased optimism among analysts and investors about its future prospects. Several analysts have raised their price targets for Take-Two Interactive’s stock following the release of the earnings report.

One factor that has contributed to this optimism is the company’s upcoming release of several highly anticipated video games. These include Grand Theft Auto VI, which is expected to be released in late 2023 or early 2024, and a new installment in the BioShock franchise, which is currently in development.

Overall, Take-Two Interactive’s Q4 2023 earnings report has been seen as a positive sign for the company’s future growth prospects. With strong revenue and EPS figures, as well as a promising pipeline of upcoming video game releases, the company appears to be well-positioned for continued success in the years ahead.

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• Source: https://zephyrnet.com/earnings-highlights-of-take-two-interactives-ttwo-q4-2023-results-alphastreet/