Take-Two Delivers Revenue Beat

NEW YORK (TheStreet) -- Take-Two Interactive (TTWO) shares are sharply higher in after-hours despite a weaker-than-expected earnings report. Earnings fell sharply year-over-year, as 2011 saw the release of Red Dead Redemption.

The New York City-based video game maker reported fiscal fourth-quarter non-GAAP loss of 60 cents per share on $148.1 million in revenue. Analysts polled by Thomson Reuters were looking for a non-GAAP loss of 55 cents per share on $139.9 million in revenue. Analysts polled by Estimize expected a loss of 60 cents per share on $141 million in revenue.

"Fiscal 2012 was a year of creative, operational and strategic achievement by our Company," said Strauss Zelnick, Chairman and CEO in the company press release. Zelnick mentioned the titles Take-Two released, including L.A. Noire and NBA 2K12.

Take-Two provided fiscal first-quarter guidance. The company said it expects to generate between $225 million and $275 million in sales. Non-GAAP losses per share are expected to between 75 cents and 60 cents per share. For the full year, Take-Two expects revenue to be between $1.75 billion and $1.85 billion, and generate between $2 and $2.25 in non-GAAP earnings per share.

Shares of Take-Two finished the regular session lower, off 0.98% to $11.16. Shares are higher in extended-hours trading, gaining 4.84% to $11.70 according to Nasdaq.com.

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--Written by Chris Ciaccia in New York

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