Take-Two Interactive Results Top Estimates, Lifts FY Guidance; Stock Up 6%

(RTTNews) - Video game publisher Take-Two Interactive Software Inc (TTWO) on Tuesday reported third-quarter net earnings of $40 million or $0.42 per share compared with $578.4 million or $4.69 per share last year.

Excluding items, adjusted earnings for the quarter were $1.87 per share compared with $1.70 per share a year ago.

The company's revenues for the quarter were $531 million compared with $1.86 billion in the prior year, while adjusted revenues rose to $954 million from $767.7 million.

Analysts polled by Thomson Reuters estimated earnings of $1.52 per share on revenues of $797.7 million for the quarter. Analysts' estimates typically exclude special items.

For the fourth quarter, Take-Two expects adjusted earnings of $0.15 to $0.25 per share on adjusted revenues of $410 million to $460 million. Analysts expect earnings of $0.25 per share on revenues of $437.4 million.

For the full year 2015, Take-Two expects adjusted earnings of $1.65 to $1.75 per share on adjusted revenues of $1.65 billion to $1.70 billion. Earlier the company projected earnings of $1.05 to $1.30 per share on revenues of $1.4 billion to $1.5 billion.

Analysts expect earnings of $1.38 per share on revenues of $1.52 billion for 2015.