Take-Two Interactive Earnings Point to New Four-Year High

Before you go, we thought you'd like these...
Before you go close icon

GameStop shelvesTake-Two Interactive Software Inc. (NASDAQ: TTWO) reported fiscal fourth-quarter and full-year 2013 results after markets closed today. For the quarter, the video game producer posted adjusted diluted earnings per share (EPS) of $0.38 on revenues of $330.1 million. In the same period a year ago, the company reported an EPS loss of $0.60 on revenues of $148.1 million. Fourth-quarter results compare to the Thomson Reuters consensus estimates for EPS of $0.28 EPS and $280.36 million in revenues.

For the full year, Take-Two reported revenues of $1.22 billion and EPS of $0.36, compared with 2012 revenues of $825.8 million and an EPS loss of $0.71.

On a GAAP basis, the company reported quarterly adjusted EPS of $0.23, compared with an EPS loss of $0.78 in the year-ago quarter.

Revenue from digitally delivered content grew 148% year-over-year and 192% in the quarter when compared with the fourth quarter of 2012.

The company's CEO said:

Take-Two delivered strong revenue growth and solid non-GAAP earnings for fiscal year 2013, driven by robust demand for our groundbreaking new releases, iconic catalog titles and expanding portfolio of digitally delivered offerings. … Looking ahead, we have an extensive pipeline of next-generation and emerging platform titles in development, including both new intellectual property and releases from our proven franchises. As a result, our current outlook is to be profitable on a non-GAAP basis in fiscal 2015 and for the foreseeable future.

For the first quarter of fiscal year 2014, the company guided revenue to a range of $100 to $125 million and expects an adjusted EPS loss in the range of $0.55 to $0.70. For the full year, the company expects revenues of $1.75 to $1.85 billion. Full-year EPS is expected to fall into the range of $2.05 to $2.30.

Shares are trading up 4% at $17.03 in after-hours trading today, in a 52-week range of $7.37 to $16.68. Thomson Reuters had a consensus analyst price target of around $16.65 before today's report.


Filed under: 24/7 Wall St. Wire, Earnings, Entertainment, Video Games Tagged: featured, TTWO
Read Full Story

Markets

S&P 500 2,369.75 2.41 0.10%
DJIA 20,837.44 15.68 0.08%
NASDAQ 5,861.90 16.59 0.28%
DAX 11,792.93 -29.74 -0.25%
NIKKEI 225 19,118.99 11.52 0.06%
HANG SENG 23,740.73 -184.32 -0.77%
USD (per EUR) 1.06 0.00 0.13%
USD (per CHF) 1.00 0.00 -0.47%
JPY (per USD) 112.19 -0.54 -0.48%
GBP (per USD) 1.24 0.00 -0.10%

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners