Why Shares of Take-Two Interactive Are Down Today
Shares of Take-Two Interactive Software (NASDAQ: TTWO) fell more than 10% on Friday morning after the video game giant posted weaker-than-expected results during the holiday quarter. The company sounded an optimistic tone about its pipeline and future prospects, but investors were in no mood to hear it.
Take-Two, owner of game franchises including Grand Theft Auto, Civilization, and Red Dead Redemption, after markets closed Thursday reported fiscal third-quarter earnings of $1.43 per share, well short of the $1.75-per-share analyst consensus. Net bookings for the quarter came in at $888.2 million, short of analyst expectations and down 43% year over year.
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Source Fool.com
