Take-Two blows past revenue targets but misses on earnings

Take-Two Interactive Software reported earnings that met revenue expectations for the first fiscal quarter ended June 30, but it fell short on earnings targets.

The New York-based company reported non-GAAP earnings per share of 31 cents (versus a loss of 14 cents a year ago) on revenues of $366.4 million (up 142 percent from a year ago). Analysts had expected non-GAAP earnings per share of 36 cents on revenues of $351 million. While analysts expected more, Take-Two’s capability to stay profitable long after the initial launch of a Grand Theft Auto title says a great deal about the company and how it makes money these days. In years past, Take-Two would lose money in non-GTA years.