Take-Two Interactive Software, Inc. Earnings Cheat Sheet: Loss Widens
Take-Two Interactive Software, Inc. (NASDAQ:TTWO) reported its results for the third quarter. The Company is a global publisher, developer and distributor of interactive entertainment software and hardware.
Take-Two Interactive Software Earnings Cheat Sheet for the Third Quarter
Results: Net loss for the company widened to $22.1 million (27 cents/share) vs. a loss of $9.8 million (13 cents/share) in the year earlier quarter.
Actual vs. Wall St. Expectations: For TTWO, the mean analyst estimate was for a loss of 41 cents/share. Estimates ranged from a loss of 37 cents per share to a loss of 43 cents per share.
Quoting Management: Strauss Zelnick, Chairman and CEO of Take-Two, commented, “Fiscal 2011 was a very strong year for Take-Two. We generated revenue growth and margin expansion that consistently exceeded expectations, and also took action to position the Company for even greater success over the long-term. Recent achievements include extending the employment agreements with Rockstar’s key creative talent, renewing our multi-year partnership with the NBA, and entering into two new partnerships to develop online games for Asian markets. These initiatives and others will enable us to continue to execute our core strategy of developing groundbreaking triple-A titles for traditional platforms, while at the same time prudently investing in triple-A entertainment experiences for emerging gaming platforms, both domestically and abroad.”
Competitors to Watch: Electronic Arts Inc. (NASDAQ:ERTS), Microsoft Corporation (NASDAQ:MSFT), THQ Inc. (NASDAQ:THQI), Activision Blizzard, Inc. (NASDAQ:ATVI), Majesco Entertainment Co. (NASDAQ:COOL), KONAMI CORPORATION (NYSE:KNM), Nintendo (NTDOY), Disney (NYSE:DIS) and Sony Corporation (NYSE:SNE).
Stock Performance: Shares of TTWO are down .43% after hours.
(Sources: YahooFinance, Xignite Financials)