(Adds executive quote, details on game pipeline)
By Malathi Nayak
SAN FRANCISCO May 13 Video game publisher
Take-Two Interactive Software's profit and revenue fell
less than expected in the fourth quarter and it forecast fiscal
2015 earnings in line with Wall Street's estimates on Tuesday.
Shares in Take-Two fell about 3 percent in after-hours
trading after closing at $20.63 on Nasdaq.
For fiscal 2015, the company estimated non-GAAP 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 $1.39 in revenue and profit of $1.04 per share.
"That's strong profitability without a 'Grand Theft Auto'
release" in fiscal 2015, Take-Two Chief Executive Strauss
Zellnick said in an interview. "In the last seven quarters we've
beaten our guidance."
New York City-based Take-Two said revenue declined 23
percent in the quarter ended March 31, beating Wall Street
expectations, on sales of "Grand Theft Auto V" and "NBA 2K14."
The company, which also publishes "BioShock Infinite," said
non-GAAP net revenue fell to $233.2 million from $303.1 million
in the year-ago quarter. That surpassed the $202.51 million
average estimate of analysts polled by Thomson Reuters I/B/E/S.
For the fourth quarter, non-GAAP net profit was $21.5
million, or 21 cents per share, sharply below $42.9 million, or
38 cents per share, a year earlier. This beat Wall Street's
expectations of earnings of 10 cents per share.
Take-Two's pipeline for fiscal 2015 includes sci-fi shooter
"Evolve" and the next installment from its hit basketball game
franchise "NBA 2K15."
The company has previously said it expects a profit in
fiscal 2015 and "every year for the foreseeable future."
(Reporting by Malathi Nayak; Editing by Steve Orlofsky and