Take-Two Q1 Loss Narrows

(RTTNews) - Take-Two Interactive Software, Inc. (TTWO) reported a net loss for the first quarter of $35.4 million or $0.45 per share, compared to a net loss of $61.9 million or $0.71 per share for the year-ago quarter.

Excluding items, adjusted net loss for the first quarter was $11.2 million or $0.14 per share, as compared to an adjusted net loss of $47.1 million or $0.54 per share in the prior year quarter.

Net revenue for the first quaretr fell 12% to $125.4 million from $142.7 million a year earlier, while adjusted net revenue for the quarter grew 5% to $151.6 million from $144.3 million last year.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.26 per share on revenue of $135.34 million for the first quarter. Analysts' estimates typically exclude special items.

Looking forward to the second quarter, the company forecasts adjusted net revenue of $95 million to $110 million and adjusted loss of $0.70 to $0.60 per share. Analysts currently expect the company to earn $0.01 per share on revenue of $274.43 million for the second quarter.

For the fiscal year 2015, the company continues to expect adjusted net revenue of $1.35 billion to $1.45 billion and adjusted earnings pf $0.80 to $1.05 per share. Analysts currently expect the company to earn $1.03 per share on revenue of $1.43 billion for the fiscal year 2015.