Investing.com -- Take-Two on Thursday reiterated its annual booking guidance and touted growth in the years ahead even as the video game maker forecasted deeper annual loss and delivered mixed fiscal first-quarter results.
Take-Two Interactive Software Inc (NASDAQ:TTWO) popped more than 5% in Friday's premarket trade.
The company reported a loss of $1.52 a share on revenue of $1.34 billion, missing estimates for a loss of $1.37 a share and $1.26B, respectively.
Net bookings - the net amount of products and services sold digitally or sold-in physically - grew 1% to $1.22B.
For fiscal Q2, the company expects a net loss of $2.15 to $2.30 a share and net bookings of $1.42M to $1.47M.
Looking ahead to fiscal 2025, the company forecasts a net loss in a range of $4.33 to $3.95 compared with a prior forecast for a loss of $3.90 to $3.50.
But bookings guidance for the year was maintained in a range of $5.55B to $5.65B and the company touted growth ahead.
"We expect to achieve sequential increases in net bookings in fiscal 2026 and 2027, which we believe will drive long-term shareholder value," it added.
Despite a slight top and bottom-line miss, Jefferies analysts stressed the importance of TTWO's unchanged "FY25 or longer-term outlook including GTA VI."
"See little change to FY25 numbers and remain Buy and $185 PT at 24x our GTA cycle EPS of $7.70," they wrote.
Yasin Ebrahim contributed to this report.