Take-Two Reports Stronger Q4, 2013
The top and bottom lines have improved for Take-Two Interactive , which has released its Q4 and fiscal 2013. For the quarter, net revenue was just under $300 million, more than double the $148 million the video-game company posted in the same period the previous year. The bottom line flipped to a profit of $22 million ($0.24 per diluted share) from Q4 2012's net loss of $67 million ($0.79).
The most recent quarter's results edged past analyst expectations of $0.23 in EPS and exceeded the average projection of $280 million for the top line.
For the full year, net revenue also saw a boost, to $1.2 billion from 2012's figure of $826 million. Net loss was much narrower, landing at $29 million ($0.34 per diluted share) for the year after fiscal 2012's shortfall of $109 million ($1.31).
Take-Two is currently riding a wave of popularity, with strong titles in the pipeline. Its subsidiary, 2K, released BioShock Infinite in late March to largely positive reviews and robust sales. Meanwhile, the company's Rockstar Games will launch the latest entry in the popular Grand Theft Auto series in mid-September.
The article Take-Two Reports Stronger Q4, 2013 originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Take-Two Interactive. The Motley Fool recommends Take-Two Interactive. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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