Take-Two posts 2Q loss, results top Street expectations

MarketsAssociated Press

Take-Two Interactive Software Inc. (TTWO) on Wednesday reported a loss of $41.4 million in its fiscal second quarter.

The New York-based company said it had a loss of 51 cents per share. Losses, adjusted for one-time gains and costs, came to 44 cents per share.

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The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for a loss of 48 cents per share.

The publisher of "Grand Theft Auto" and other video games posted revenue of $126.3 million in the period, which also beat Street forecasts. Analysts expected $112 million, according to Zacks.

For the current quarter ending in December, Take-Two expects its per-share earnings to range from $1.35 to $1.45. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.21.

The company expects full-year earnings in the range of $1.05 to $1.30 per share.

Take-Two shares have climbed 31 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $22.80, an increase of 27 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. TTWO stock research report from Zacks.

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Keywords:Take-Two,Earnings Report