Take-Two Interactive Earnings Point to New Four-Year High

GameStop shelvesTake-Two Interactive Software Inc. (NASDAQ: TTWO) reported fiscal fourth-quarter and full-year 2013 results after markets closed today. For the quarter, the video game producer posted adjusted diluted earnings per share (EPS) of $0.38 on revenues of $330.1 million. In the same period a year ago, the company reported an EPS loss of $0.60 on revenues of $148.1 million. Fourth-quarter results compare to the Thomson Reuters consensus estimates for EPS of $0.28 EPS and $280.36 million in revenues.

For the full year, Take-Two reported revenues of $1.22 billion and EPS of $0.36, compared with 2012 revenues of $825.8 million and an EPS loss of $0.71.

On a GAAP basis, the company reported quarterly adjusted EPS of $0.23, compared with an EPS loss of $0.78 in the year-ago quarter.

Revenue from digitally delivered content grew 148% year-over-year and 192% in the quarter when compared with the fourth quarter of 2012.

The company's CEO said:

Take-Two delivered strong revenue growth and solid non-GAAP earnings for fiscal year 2013, driven by robust demand for our groundbreaking new releases, iconic catalog titles and expanding portfolio of digitally delivered offerings. … Looking ahead, we have an extensive pipeline of next-generation and emerging platform titles in development, including both new intellectual property and releases from our proven franchises. As a result, our current outlook is to be profitable on a non-GAAP basis in fiscal 2015 and for the foreseeable future.

For the first quarter of fiscal year 2014, the company guided revenue to a range of $100 to $125 million and expects an adjusted EPS loss in the range of $0.55 to $0.70. For the full year, the company expects revenues of $1.75 to $1.85 billion. Full-year EPS is expected to fall into the range of $2.05 to $2.30.

Shares are trading up 4% at $17.03 in after-hours trading today, in a 52-week range of $7.37 to $16.68. Thomson Reuters had a consensus analyst price target of around $16.65 before today's report.


Filed under: 24/7 Wall St. Wire, Earnings, Entertainment, Video Games Tagged: featured, TTWO

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