Take-Two Interactive Software, Inc. Earnings Cheat Sheet: Swinging to a Loss

Take-Two Interactive Software, Inc. (NASDAQ:TTWO) reported its results for the second quarter. The Company is a global publisher, developer and distributor of interactive entertainment software and hardware.

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Take-Two Interactive Software Earnings Cheat Sheet for the Second Quarter

Results: The company fell to a loss of $8.7 million (11 cents per share) vs. a profit of $26.3 million or 32 cents per share a year earlier.

Revenue: Fell 10% to $334.4 million.

Actual vs. Wall St. Expectations: The company reported adjusted net income of 2 cents per share. By this measure, the company fell short of the mean analyst estimate of 10 cents per share.

Quoting Management: Strauss Zelnick, Chairman and CEO of Take-Two, commented, “During the first quarter, we delivered revenue and Non-GAAP profits that were in line with our expectations. Our results benefited from the launch of Rockstar’s groundbreaking and critically acclaimed title – L.A. Noire, the release of Duke Nukem Forever, continued strong sales of NBA 2K11 and Red Dead Redemption, and growth in digitally delivered content. Given our solid performance year-to-date and robust pipeline of upcoming new releases, we are well positioned to be profitable on a Non-GAAP basis in fiscal year 2012.”

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), and Sony Corporation (NYSE:SNE).

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(Source: Xignite Financials)