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Take-Two: Fiscal 2Q Earnings Snapshot

November 7, 2018

NEW YORK (AP) _ Take-Two Interactive Software Inc. (TTWO) on Wednesday reported fiscal second-quarter net income of $25.4 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the New York-based company said it had net income of 22 cents. Earnings, adjusted for non-recurring costs and stock option expense, were $1.05 per share.

The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.

The publisher of “Grand Theft Auto” and other video games posted revenue of $492.7 million in the period. Its adjusted revenue was $583.4 million, which also beat Street forecasts. Fifteen analysts surveyed by Zacks expected $548.6 million.

For the current quarter ending in January, Take-Two said it expects revenue in the range of $1.1 billion to $1.15 billion.

The company expects full-year earnings to be $1.73 to $1.98 per share, with revenue ranging from $2.55 billion to $2.65 billion.

Take-Two shares have climbed 14 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $125.38, a climb of 18 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TTWO at https://www.zacks.com/ap/TTWO

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