Take-Two Interactive Beats Street Forecast, Delivers Weak Outlook
Take-Two shares were down nearly 3-percent after delivering weaker-than-expected guidance for the current quarter. Analysts had expected the Grand Theft Auto game to drive earnings.
Take-Two shares were down nearly 3-percent after delivering weaker-than-expected guidance for the current quarter. The video game maker reported earnings of $0.21 a share, nearly double what analysts were expecting. Revenue came in at $233 million dollars. Analysts had expected the Grand Theft Auto game to drive earnings. The company has several successful franchises and Take Two's CEO said "we also have complemented the company's core business with growing profits from recurrent consumer spending, including add-on content, virtual currency and online gaming." For the current quarter, Take-Two expects to post a loss of at least $0.25 a share and for the full year expects to earn at most $1.05 a share. Kori Hale reports from Wall Street.
