Reuters: Global Markets: Take-Two revenue rises in third quarter, beats Street

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Take-Two revenue rises in third quarter, beats Street Feb 5th 2013, 21:54 SAN FRANCISCO | Tue Feb 5, 2013 4:54pm EST SAN FRANCISCO (Reuters) - Video game publisher Take-Two Interactive Software Inc (TTWO.O) reported higher revenue and earnings in the third quarter, driven by robust sales of its sports title "NBA 2K13" and "Borderlands: 2." Take-Two shares closed were up 11 percent in after-hours trading after closing at $12.66 on the Nasdaq. The games maker forecast non-GAAP revenue for the year to end-March of $1.15 billion to $1.2 billion and earnings of 5 cents to 20 cents per share from nil to 20 per share previously, up 25 percent at the mid-point. Better-than-expected results prompted the company to raise the lower end of its non-GAAP earnings outlook, Strauss Zellnick, Chairman and CEO said in an interview. Take-Two, which publishes the hit "Grand Theft Auto" franchise, said net revenue was $416 million in the quarter ended December 31, compared with $236.3 million a year earlier. That beat the $361.9 million average estimate of analysts, according to Thomson-Reuters I/B/E/S. "It was driven by the huge success of 'NBA 2K13,'continued strong sales of 'Borderlands 2' and a successful launch of 'XCOM: Enemy Unknown,' as well as very strong holiday sales of our catalog and digitally delivered offerings," Zellnick said. It reported a net income of $71.36 million, or 66 cents per share, compared with $14.1 million, or 16 cents per share a year ago. The net income also exceeded Wall Street's view of 54 cents. (Reporting By Malathi Nayak. Editing by Andre Grenon) Link this Share this Digg this Email Reprints

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