Shares of Take-Two Interactive (NASDAQ:TTWO) fell over 15% in after-hours trading after the company reported earnings for its second quarter of Fiscal Year 2023. Earnings per share came in at -$1.54, which missed analysts’ consensus estimate of $1.37 per share.
Sales increased by 63.1% year-over-year, with revenue hitting $1.4 billion. This also missed analysts’ expectations of $1.538 billion.
Looking forward, management now expects revenue and earnings per share for Fiscal Year 2023 to be in the ranges of $5.41 billion to $5.51 billion and -$4.22 to -$3.95, respectively.
For reference, the prior outlook was a range of $5.73 billion to $5.83 billion in revenue, while analysts were expecting $5.89 billion in revenue and earnings per share of $4.81.
Is TTWO Stock a Buy Right Now?
TTWO stock has a Strong Buy consensus rating based on 15 Buys, five Holds, and zero Sells assigned in the past three months. The average TTWO stock price target of $164 implies 51.29% upside potential. However, this might change following today’s earnings report.
