Take Two Interactive Software Inc (NASDAQ:TTWO) shares jumped over 7 percent on Tuesday morning after the video-game publisher posted earnings of $99.3 million, or 89 cents per share for the fourth quarter that easily surpassed consensus forecast of 57 cents per share. Comparatively, TTWO reported earnings of 48 cents per share in the same period last year.
Revenue for the quarter came in at $571.6 million, significantly higher from $377.2 million in the year-earlier period. Analysts surveyed by FactSet were looking for revenue of $355 million.
AutoZone Inc. (NYSE:AZO) shares plummeted more than 9 percent on Tuesday after the Memphis, Tennessee-based company announced its third-quarter earnings and revenue that missed consensus forecast.
The aftermarket automotive parts and accessories retailer posted earnings of $331.7 million, or $11.44 per share in the quarter, up from $10.77 per share in the same period last year, but below analysts’ average estimate of $11.99 per share. Revenue came in at $2.62 billion, as compared to $2.59 billion in the year-earlier quarter, but fell short of $2.71 billion estimated by analysts.
AZO’s CEO Bill Rhodes said “our sales performance for the first five weeks of our quarter was significantly below our expectations, challenged by the well-publicized timing delays in IRS tax refunds.” Rhodes added that “the last seven weeks of sales demonstrated improvement, but not enough to make up for our soft start.”
Momo Inc (NASDAQ:MOMO) shares fell more than 6 percent after the market opened this morning following the company’s first quarter financial results. The company posted net income of $81.2 million in the quarter, versus $7.1 million in the year-earlier quarter. Revenue for the quarter came in at $265.2 million, up 421 percent on year-over-year basis.
The company’s CEO Yan Tang said “the first quarter was a good start for the year 2017 with remarkable achievements across all of our strategic priorities…..looking ahead into the future, we will continue to push forward with our strategy to drive the video transition and introduce more entertaining content to build recreational activities. We believe that will help us to further lower the barrier and increase the efficiency of open social activities, and thus allow us to appeal to a much broader base of users. We have more fun to introduce ahead and will unfold them one by one as we move down the journey.”