(Adds Evolve release date, holiday lineup)
By Malathi Nayak
SAN FRANCISCO Aug 5 Take-Two Interactive
Software on Tuesday posted better-than-expected revenue
in its fiscal first quarter as the video game publisher's "Grand
Theft Auto V" and "NBA 2K14" titles continued to see strong
demand from gamers.
Shares in Take-Two were relatively unchanged after closing
at $21.97 on the Nasdaq.
"The catalog is performing, digitally delivered revenue is
performing, recurrent consumer spending is performing and all of
that served to deliver better-than-expected results," Chief
Executive Officer Strauss Zellnick said in an interview.
Take-Two, which also publishes "BioShock Infinite," said
non-GAAP net revenue grew 5 percent to $151.6 million in the
quarter ended June 30, from $144.3 million a year ago. That
surpassed the $134.8 million average estimate of analysts polled
by Thomson-Reuters I/B/E/S.
Its non-GAAP net loss narrowed to $11.2 million, or 14 cents
per share, from $47.1 million, or 54 cents per share a year ago,
the company said. This beat Wall Street's expectation of a loss
of 26 cents per share.
Release of the sci-fi shooter game "Evolve," scheduled for
October, was postponed to Feb. 10, the company said.
"We're giving the team a bit more time to polish it,"
The new release timing would be opportune as February has a
light release schedule. Consumers are expected to purchase Sony
Corp's PlayStation 4 and Microsoft's Xbox One
consoles this holiday season, which could boost sales of games
early in 2015, Zellnick said.
With 'Evolve,' "we're gratified by the way the title is
unfolding and that includes pre-orders," Zellnick added without
The company reiterated its fiscal year forecast of estimated
non-GAAP net revenue of $1.35 billion to $1.45 billion and
non-GAAP net income of 80 cents to $1.05 per share. That was in
line with analysts' estimate of $1.44 billion in revenue and
profit of $1.05 per share.
Its holiday lineup for the Xbox and PlayStation consoles
includes basketball title "NBA 2K15" and wrestling game "WWE
(Reporting by Malathi Nayak; Editing by David Gregorio)