Take-Two Interactive Warns
For the full year, Take-Two is now predicting earnings of 95 cents to $1.20 a share -- $1.15 to $1.45 a share, excluding options costs -- on sales ranging from $1.35 billion to $1.45 billion. Analysts had predicted a profit of $1.35 a share on sales of $1.43 billion.
The company had previously predicted earnings of $1.05 a share to $1.30 a share -- $1.25 to $1.55 a share before options costs -- on sales of $1.4 billion to $1.5 billion.
In addition to reducing guidance last month and again Monday, Take-Two cut its third-quarter outlook in July after it pulled Grand Theft Auto: San Andreas from store shelves. The company's move came after the discovery of explicit sexual content hidden within the game and the decision by an industry rating board to change its rating on the title.
Shares of Take-Two closed regular trading up 68 cents, or 3%, to $20.65.Several factors weighed into the company's decision to reduce its outlook for the just-completed year:
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