Take-Two: Fiscal 1Q Earnings Snapshot
NEW YORK (AP) _ Take-Two Interactive Software Inc. (TTWO) on Monday reported fiscal first-quarter profit of $46.3 million.
The New York-based company said it had profit of 41 cents per share. Earnings, adjusted for non-recurring gains, came to 24 cents per share.
The results surpassed Wall Street expectations. The average estimate of 20 analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The publisher of “Grand Theft Auto” and other video games posted revenue of $540.5 million in the period. Its adjusted revenue was $422.2 million, which also topped Street forecasts. Seventeen analysts surveyed by Zacks expected $354.4 million.
For the current quarter ending in October, Take-Two said it expects revenue in the range of $855 million to $905 million.
The company expects full-year revenue in the range of $2.83 billion to $2.93 billion.
Take-Two shares have increased 12% since the beginning of the year. In the final minutes of trading on Monday, shares hit $115.38, a fall of 6.5% in the last 12 months.