Take-Two Interactive Software Inc. Earnings Cheat Sheet: Swings to Loss

Take-Two Interactive Software, Inc. (NASDAQ:TTWO) reported its results for the fourth quarter. Take-Two Interactive Software 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 Fourth Quarter

Results: Swung to a loss of $47.2 million (57 cents a share) vs. net income of $3.3 million or 9 cents a share a year earlier.

Revenue: Fell 56.3% to $107 million from a year earlier.

Actual vs. Wall St. Expectations: The company reported an adjusted net loss of 47 cents a share. By that measure, the company beat the mean estimate of 57 cents a share.

Quoting Management: “Our second quarter results exceeded expectations, driven by strong demand for the Company’s catalog offerings and digitally delivered add-on content that deepens the consumer experience,” said Strauss Zelnick, Chairman and CEO of Take-Two. “The second half of the year is off to a solid start with the launch of NBA 2K12, which received the highest ratings in the history of our industry-leading basketball series. We expect to build upon this momentum through the balance of this year with groundbreaking new releases from our portfolio of hit franchises, including Max Payne three from Rockstar Games and The Darkness II from 2K Games, and a broad array of other offerings that promise to delight audiences worldwide — whether at home or on the go.”

Key Stats:

The company topped expectations last quarter after falling short of forecasts in the third quarter with a loss of 7 cents versus a mean estimate of net income of 2 cents per share.

Looking Forward: Over the past sixty days, the outlook for the company’s performance next quarter has become increasingly unfavorable. The average estimate for the first quarter of the next fiscal year is 15 cents per share, a drop from 27 cents. The average estimate for the fiscal year has reached a loss of 13 cents per share, down from a loss of 2 cents ninety days ago.

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), Silverstar Holdings Ltd. (SSTRF), Zoo Entertainment, Inc. (ZOO), Handleman Company (HDLM), and Sony Corporation (NYSE:SNE).

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)