Stocks moving in after-hours: Take-Two Interactive, Cisco


These are some of the stocks moving in after-hours on Wednesday, May 17, 2023.

Take-Two Interactive (TTWO)

Take-Two Interactive shares soared as much as 10% in post-market after the video game publisher’s fiscal fourth quarter’s total Net Bookings grew 65% to $1.39 billion, beating Wall Street estimates of $1.34 billion.

The results were driven by titles like Grand Theft Auto V and Grand Theft Auto Online, Red Dead Redemption 2, and Zynga’s mobile portfolio.

BRAZIL – 2023/02/07: In this photo illustration, the Take Two Interactive Software logo is displayed on a smartphone screen. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images)

“We also issued guidance for Fiscal 2024, which includes Net Bookings in the range of $5.45 billion to $5.55 billion. Our forecast reflects the challenging consumer backdrop, as well as an extension of the development timelines for several high-profile, long-awaited titles in our pipeline,” said Strauss Zelnick, chairman and CEO of Take-Two.

Zelnick’s comments may be seen as a hint towards the release of Grand Theft Auto VI, though no timeline has been given.

Take-Two shares are up 20% year-to-date.

Cisco shares declined more than 3% in after-hours after the networking company said orders declined 23% in the past quarter, even though its sales and profit forecast came in better than expected.

The networking company expects full-year revenue to grow 10% to 10.5% versus previously predicted growth of 9% to 10.5%. Cisco sees adjusted earnings per share coming in between $3.80 and $3.82 compared to its previous target of $3.73 to $3.78.

The company’s fiscal third-quarter adjusted earnings per of $1.00 beat Wall Street estimates of 97 cents. Revenue for the quarter increased 14% year-over-year to $14.57 billion versus expectations of $14.39 billion

Cisco has been positioning itself to sell more networking services and software in order to diversify revenue streams.

“In Q3, we delivered record revenue and double-digit growth in both software and subscription revenue. As key technologies like cloud, AI, and security continue to scale, Cisco’s long-established leadership in networking, and the breadth of our portfolio position us well for the future,” CEO Chuck Robbins said in the company’s earnings release.

Ines is a senior business reporter for Yahoo Finance. Follow her on Twitter at @ines_ferre

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