Take-Two Interactive forecasts Q2 bookings below estimates on soft gaming spends

Quick Summary:

:Videogame publisher Take-Two Interactive Software forecast second-quarter bookings below Wall Street expectations on Thursday, a sign of sluggish spending on its popular titles such as "Grand Theft Auto" and "NBA 2K" in an uncertain economy.

It, however, expects to see sequential growth in its net bookings in fiscals 2026 and 2027.

The downbeat projection highlights weakness in in-game spending on live-service titles as customers cut back on discretionary purchases amid a cost-of-living crisis and still-high inflation.

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Category: EconomyBusiness

Markets: Singapore

Topics: Spending Grand Billion Company Auto Take-two Software Interactive Bookings Theft Popular

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-09 @ 04:12:37 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 274 words

Reading Time: 2 minutes read

Sentences: 11 lines

Sentence Length: 25 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 21992050

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