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Take-Two Posts Strong Q3, but Guidance Misses Estimates

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Take-Two Interactive Software (NASDAQ: TTWO  ) had an encouraging quarter, as revenues and profit both advanced strongly in its just-reported Q3 numbers. The top line came in at $416 million and net income was $71 million, or $0.66 per diluted share. The former was a 76% improvement over the same period the previous year, while the net figure was more than five times Q3 2012's number.

Those results handily beat the average analyst expectation of $367 million and $0.56 per share.

The news wasn't as good regarding forward guidance, however. The company said it expects $235 million to $285 million in the top line for this quarter, and EPS of $0.10 to $0.25. Analysts had been modeling $305 million and $0.34.

For the entirety of fiscal 2013, the company believes it will post revenue of $1.15 billion to $1.20 billion, and EPS of $0.05 to $0.20.

Take-Two also announced that its board has authorized the repurchase of 7.5 million shares of the company's common stock.

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9/29/2016 4:00 PM
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