Take-Two Interactive tops 3Q earnings and revenue expectations

MarketsAssociated Press

NEW YORK (AP) — Take-Two Interactive Software Inc. (TTWO) on Tuesday reported fiscal third-quarter profit of $40.1 million.

The New York-based company said it had net income of 42 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were $1.87 per share.

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The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.52 per share.

The publisher of "Grand Theft Auto" and other video games posted revenue of $954 million in the period, which also topped Street forecasts. Analysts expected $782 million, according to Zacks.

For the current quarter ending in March, Take-Two expects its per-share earnings to range from 15 cents to 25 cents.

The company said it expects revenue in the range of $410 million to $460 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $419.6 million.

Take-Two expects full-year earnings in the range of $1.65 to $1.75 per share, with revenue ranging from $1.65 billion to $1.7 billion.

Take-Two shares have risen 6.5 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $29.84, a climb of 58 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 http://www.zacks.com/ap/TTWO

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Keywords: Take-Two Interactive, Earnings Report