Take-Two Interactive Software posted a 19 percent drop in revenue in its fiscal fourth quarter after the video game publisher moved the release of major title "Max Payne 3" to later this fiscal year.
Take-Two, which publishes the hit "Grand Theft Auto," said net revenue fell to $148.1 million in the quarter ended March 31, from $182.3 million a year earlier.
That beat the $139.9 million average estimate of analysts polled by Thomson-Reuters I/B/E/S.
The company reported a net loss of $66.84 million, or 79 cents per share, compared to a loss of $22.05 million, or 27 cents per share, a year earlier.
Adjusted for the deferral of digital revenue and other items, the company said its loss was $50.94 million, or 60 cents per share, compared to a loss of $14.42 million, or 18 cents per share, a year ago.
Take-Two's shares rose to $11.61 in after-hours trading on Tuesday, from a close of $11.16 on the Nasdaq. (Reporting by Malathi Nayak; Editing by Gary Hill and Carol Bishopric)