Take-Two Sandbags Investors
Take-Two Interactive Software, Inc. (NASDAQ:TTWO) is down after the company announced today that Rockstar Games has moved back the planned launch of Max Payne 3 from March to May, 2012, said a report from Business Wire.
Take-Two says the delay moves the release of Max Payne 3 out of the firm’s fiscal fourth quarter for 2012 and into its fiscal first quarter for 2013. The move is anticipated to effect a net loss for fiscal year 2012, lowering the year’s net earnings by $210-$230 million
“Fiscal 2013 is poised to be one of our best years ever,” said Strauss Zelnick, chairman and CEO of Take-Two. “With anticipated substantial revenue growth and Non-GAAP Net Income of over $2 per share.”
Here’s how shares closed today:
Take-Two Interactive Software Inc. (NASDAQ:TTWO): TTWO shares recently traded at $14.82, up $0.32, or 2.21%. They have traded in a 52-week range of $10.63 to $17.58. Volume today was 3,847,550 shares versus a 3-month average volume of 2,240,740 shares. The company’s trailing earnings are $-0.47 per share.