Take-Two Interactive (TTWO) Posts Smaller Q1 Loss; Issues Mixed Outlook

Take-Two Interactive (NASDAQ: TTWO) reported Q1 EPS of ($0.14), $0.12 better than the analyst estimate of ($0.26). Revenue for the quarter came in at $151.6 million versus the consensus estimate of $135.2 million.

Sees Q2 EPS of ($0.70) to ($0.60) and revenue of $95-$110 million, versus the consensus of $0.01 and $274.43 million.

Sees FY EPS of $0.80-$1.05 and revenue of $1.35-$1.45 billion, versus the consensus of $1.03 and $1.43 billion.

“During the fiscal first quarter, we delivered Non-GAAP revenue growth without the benefit of any major new releases,” said Strauss Zelnick, Chairman and CEO of Take-Two. “Our better-than-expected results were driven by the strength of our expanding portfolio of digitally-delivered offerings combined with persistent robust demand for NBA 2K14 and Grand Theft Auto V.

“Take-Two has an extraordinary development pipeline, including a diverse array of the highest-quality new titles and innovative offerings designed to drive recurrent consumer spending. Our lineup for the current fiscal year is highlighted by six eagerly anticipated new releases, such asGrand Theft Auto V for PS4, Xbox One and PC, NBA 2K15, and Evolve - the winner of the E3 2014 Game Critics’ Best of Show award. Fiscal 2015 is poised to be another year of strong profits for our organization, and we remain extraordinarily well-positioned for the future.”

For earnings history and earnings-related data on Take-Two Interactive (TTWO) click here.

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