Take-Two Interactive Software, Inc. (NASDAQ: TTWO) has posted results well above estimates. It reported $539.8 million in net revenues, up more than 150% from last years $205.4 million due to the explosive Grand Theft Auto IV hit. The company’s net income came in at $98.2 million, or $1.29 EPS. First Call had revenue estimates at $499.1 million and earnings at $1.13 EPS.
The company noted that Grand Theft Auto IV sold 6 million units globally in the first week and that through May 31 it has sold some 11 million units to retailers and 8.5 million have been sold through to customers.
Guidance was put at $325 to $375 million in revenues and $0.45 to $0.55 EPS for next quarter, while First Call is $325.5 million in revenues and $0.33 EPS. It offered fiscal October-2008 guidance at $1.4 Billion to $1.5 Billion in revenues and $1.65 to $1.85 EPS, while First Call estimates are $1.41 Billion in revenues and $1.53 EPS.
Shares closed up 1.2% at $27.65 in regular trading, yet it appears that shares are flat in after-hours trading.
Jon C. Ogg
June 5, 2008
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