(Reuters) -Take-Two Interactive Software forecast fourth-quarter bookings below market expectations on Thursday, on signs of weak demand for the company’s gaming titles such as “Grand Theft Auto”.
The company forecast bookings in the range of $1.27 billion to $1.32 billion, compared with analysts’ expectations of $1.51 billion, according to LSEG data.
The downbeat forecast shows signs of weak demand and stiff competition from players such as Electronic Arts and Microsoft-owned Activision Blizzard.
Consumers have cut back on leisurely spending amid an uncertain economic outlook.
Shares of Take-Two fell 2.3% in extended trading.
The company also cut its projection for full-year bookings to a range of $5.25 billion to $5.30 billion from $5.45 billion to $5.55 billion previously forecast.
(Reporting by Zaheer Kachwala in Bengaluru; Editing by Shinjini Ganguli)
