Take-Two Interactive reports first-quarter loss of $67 million

MarketsAssociated Press

Take-Two Interactive Software Inc. on Monday reported a loss of $67 million in its fiscal first quarter.

On a per-share basis, the New York-based company said it had a loss of 81 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 31 cents per share.

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The earnings results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.

The publisher of "Grand Theft Auto" and other video games posted revenue of $275.3 million in the period. Adjusted revenue was $366.4 million, topping Wall Street's expectations. Five analysts surveyed by Zacks expected $355.1 million.

Take-Two's adjusted results include revenue and related costs from games with online components or other elements that are not available when the title goes on sale. These can include extra downloadable content that video game companies often release well after the main game is sold.

For the current quarter ending in October, Take-Two expects its per-share earnings to range from 5 cents to 15 cents.

The company expects full-year earnings in the range of 75 cents to $1 per share.

Take-Two shares have risen 10 percent since the beginning of the year. They closed Monday at $30.94, an increase of 48 percent in the last 12 months.

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

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Keywords: Take-Two Interactive, Earnings Report

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This story has been corrected to clarify that the company's adjusted revenue exceeded Wall Street estimates.