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Take Two Interactive Swings into Profit in Q4, Provides Upbeat Outlook on FY 2014 (TTWO)

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Shares of Take Two Interactive Software Inc. (NASDAQ: TTWO) jumped about 5% in extended trading hours on Monday after the videogame publisher said that it swung into fiscal fourth quarter profit, driven by robust revenue-growth. The Company also provided upbeat earnings and revenue guidance for the full-year fiscal 2014.

For the fiscal fourth quarter, the New York City-based Company reported net income of $22.4 million or 24 cents a share compared to a loss of $66.8 million or 79 cents a share, in the year-earlier quarter.

Stripping out onetime items, adjusted or non-GAAP earnings stood at $42.8 million or 38 cents a share in the fourth quarter compared to a loss of $50.9 million or 60 cents a share, in the same period of last year.

Analysts surveyed by Thomson Reuters were expecting earnings of 23 cents a share.

Net sales for the period soared to $299.48 million from $148.08 million, in the year-earlier quarter, edging past analysts’ consensus estimate for $280.36 million.

For the current quarter, Take Two Interactive Software is expecting a loss to be in the range of 70 cents to 55 cents a share on revenue of $100 million to $125 million. Analysts’ consensus estimate was for a loss of 3 cents a share on revenue of $217.25 million.

Looking forward to the first quarter, the company expects adjusted loss in a range of $0.70 to $0.55 per share, on revenues between $100 million to $125 million. Analysts expect the company to lose $0.03 per share for the quarter, on revenues between $217.25 million.

For the fiscal 2014, the videogame publisher expects net income to be in the range of $2.05 to $2.30 a share on revenue of $1.75 billion to $1.85 billion. Analysts were expecting a loss of $2.26 a share on revenue of $1.78 billion.

 

 

 








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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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