[1/2] Grand Theft Auto The Trilogy by Take-Two Interactive Software Inc is seen for sale in a store in Manhattan, New York City, U.S., February 7, 2022.
REUTERS/Andrew Kelly/File PhotoAug 8 (Reuters) - Take-Two Interactive Software (TTWO.O) forecast second-quarter net bookings below Wall Street targets on Tuesday, in a sign that spending on games was under pressure amid persistent inflationary pressures.
Spending on videogame content was flat in the first half of the year, while console sales rose 23%, according to data from gaming research firm Circana.
The videogame publisher forecast net bookings between $1.4 billion and $1.45 billion, compared with analysts' average estimate of $1.45 billion, according to Refinitiv data.
Adjusted sales rose 20% to $1.20 billion in the quarter ended June 30, compared with analysts' average estimate of $1.21 billion, according to Refinitiv data.
Persons:
Andrew Kelly, Chavi Mehta, Shilpi Majumdar
Organizations:
Inc, REUTERS, PlayStation, Thomson
Locations:
Manhattan , New York City, U.S, Bengaluru