5 Media and Internet Stocks to Watch After Latest Earnings

2. Take-Two Interactive Software, Inc. (NASDAQ:TTWO)

Number of Hedge Fund Holders: 58

Shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO) fell nearly four percent on Tuesday, August 9, 2022. The drop came after the video game holding company posted disappointing results for its fiscal first quarter.

Take-Two Interactive Software, Inc. (NASDAQ:TTWO) earned 71 cents per share on an adjusted basis, below the consensus of 87 cents per share. Net booking for the quarter jumped 41 percent on a year-over-year basis to $1 billion but missed the expectations of $1.11 billion.

Looking forward, Take-Two Interactive Software, Inc. (NASDAQ:TTWO) expects booking in the range of $5.8 – $5.9 billion for its fiscal year 2023. That’s below analysts’ average estimate of $6.22 billion.

Commenting on the quarter, CEO Strauss Zelnick said in a statement:

“We remain exceedingly optimistic about the long-term growth potential for the mobile industry, as well as our ability to create greater shareholder value as a combined entity with Zynga. Our creative teams are actively discussing potential new projects and we remain committed to delivering over $500 million of annual Net Bookings opportunities over time.”