NEW YORK (TheStreet) -- Take-Two Interactive Software (TTWO) was losing 1.5% to $18.61 in after-hours trading Monday due to low fourth-quarter guidance, despite third-quarter results that beat revenue estimates with record earnings.
Revenue rose 90% to $767.7 million in the game publisher's fiscal third quarter that ended in December, up from $405 million in the year-ago quarter. The publisher posted record earnings of $1.70 a share. Analysts surveyed by Thomson Reuters estimated revenue of $704.4 million and earnings of $1.37 a share for the quarter.
Sales of games such as Grand Theft Auto V and NBA 2K14 contributed to the company's high revenue. Take-Two sold 3.25 million copies of Grand Theft Auto V to retailers across the globe in the quarter.
Despite the strong quarter, Take-Two issued guidance for its fiscal fourth quarter that fell below analyst expectations. The publisher expects earnings between break-even and 10 cents a share with revenue between $170 million and $200 million for the quarter ending March 2014. Analysts estimate earnings of 13 cents a share and revenue of $219.2 million for the quarter.