EVENTS:   Best Equity Short Ideas Conference Call 12 - Zach Shannon/Corto Capital Advisors & Craig Huber/Huber Research Partners & Thomas Beevers /Forensic Alpha & Ed Steele/Iron Blue Financials & Bill Campbell/Paragon Intel - 12 Nov 25   Will AI Deflate the World? Macro Lessons from Three Industrial Revolutions and China - Manoj Pradhan/Talking Heads Macro - 13 Nov 25     ROADSHOWS: Forest Products Sector Equity and Commodity Research With Expertise in Distressed Debt - Kevin Mason /ERA Research   •   London   12 - 14 Nov 25       Buyside to Buyside Forum and Expert Calls across TMT, Consumer, Healthcare and Fintech - Andrew Peters /Revelare Partners   •   London   17 - 19 Nov 25       Fundamental US Healthcare Short Ideas - Dr Elliot Favus /Favus Institutional Research   •   London   17 - 19 Nov 25      

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Company Research

Take-Two Interactive Soft (TTWO)

Technology

Two Rivers Analytics

The company lowered its guidance for FY 2024. They reported a slip in bookings and increasing marketing costs, with several major titles underperforming. They also delayed another game release. In addition, there is a general industry slowdown in gaming and weakness in the mobile gaming market. Sales growth was -6.7% last quarter, a third quarter of declines and Sales per employee have been flat to declining since 2015. Gross margins have increased 252bps over the past four quarters, and EBITDA margins have increased 330bps over the past four quarters on an annual basis.

Edition: 188

- 14 June, 2024