Video game publisher Take-Two Interactive Software raised its 2015 forecast on Wednesday as titles such as “Grand Theft Auto” and “NBA 2K14” helped fuel sales and drove stronger-than-expected results in its fiscal second quarter.<\/p>\n
Shares of Take-Two rose 6.5 percent in after-hours trading. They closed at $22.80 on the Nasdaq on Wednesday.<\/p>\n
Take-Two is gratified by the initial response to its holiday season lineup, Chief Executive Strauss Zelnick said in an interview.<\/p>\n
This month, the video game publisher released four new titles for the current holiday quarter, including “NBA 2K15” and “Borderlands: The Pre-Sequel” and the upcoming launch of “Grand Theft Auto V” for Xbox One and PlayStation 4 consoles.<\/p>\n
\u201cIt\u2019s early days yet but they seem to be penciling out at or better than expectations and that led us to adjust our financial outlook for the year,\u201d Zelnick said<\/p>\n
The company raised its forecast for fiscal year 2015, ending March 31 next year, to estimated non-GAAP net revenue of $1.4 billion to $1.5 billion and non-GAAP net income of $1.05 to $1.30 per share.<\/p>\n
Last quarter, it had reiterated its previous 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.<\/p>\n
Take-Two, which also publishes “Borderlands 2,” said non-GAAP net revenue fell to $135.4 million in the quarter ended Sept. 30, from $1.27 billion a year ago when the company saw record sales from the launch of “Grand Theft Auto V”. That surpassed the $111 million average estimate of analysts polled by Thomson-Reuters I\/B\/E\/S.<\/p>\n
It posted a non-GAAP net loss of $35.4 million, or 44 cents per share, compared with a profit of $325.6 million, or $2.49 per share a year ago, the company said. That beat Wall Street’s expectation of a loss of 59 cents per share.<\/p>\n
For the third quarter ending December 31, the company said it expects to deliver non-GAAP net income in the range of $1.35 to $1.45 per share.<\/p>\n
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