Take-Two: Fiscal 1Q Earnings Snapshot
NEW YORK (AP) _ Take-Two Interactive Software Inc. (TTWO) on Monday reported fiscal first-quarter net income of $88.5 million.
On a per-share basis, the New York-based company said it had net income of 77 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to $2.68 per share.
The results beat Wall Street expectations. The average estimate of 21 analysts surveyed by Zacks Investment Research was for earnings of $1.58 per share.
The publisher of "Grand Theft Auto" and other video games posted revenue of $831.3 million in the period. Its adjusted revenue was $996.2 million, which also beat Street forecasts. Nineteen analysts surveyed by Zacks expected $844.3 million.
Take-Two expects full-year earnings to be $3.04 to $3.30 per share, with revenue in the range of $2.8 billion to $2.9 billion.
Take-Two shares have climbed 37% since the beginning of the year. In the final minutes of trading on Monday, shares hit $167.69, a rise of 37% in the last 12 months.
_____
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 https://www.zacks.com/ap/TTWO
