Take-Two posts Q1 loss, revenue dives 32 pct

SAN FRANCISCO, July 31 Tue Jul 31, 2012 4:15pm EDT

SAN FRANCISCO, July 31 (Reuters) - Take-Two Interactive Software posted a net loss and 32 percent drop in revenue in its fiscal first quarter, due to weak sales of its new title "Max Payne 3."

Take-Two, which publishes the hit "Grand Theft Auto" franchise, said net revenue came to $226.1 million in the quarter ended June 30, compared with $334.4 million a year earlier. That lagged the $254.2 million average estimate of analysts, according to Thomson-Reuters I/B/E/S.

The company reported a net loss of $110.8 million, or $1.30 a share, versus a loss of $8.6 million, or 11 cents a share, a year earlier. ((Malathi.Nayak@thomsonreuters.com)(415-677-2538)(@MalathiNayak )