Take-Two Interactive Q4 Profit Rises

(RTTNews) - Electronic gaming and multimedia company Take-Two Interactive Software, Inc. (TTWO) on Tuesday reported fourth-quarter net income of $218.8 million or $1.88 per share, higher than $122.7 million or $1.07 per share in the year-ago quarter. The net income included the reversal of expense of around $69.5 million, related to forfeitures of previously granted stock awards.

On average, 23 analysts polled by Thomson Reuters expected the company to report earnings of $0.67 per share in the quarter. Analysts' estimates, usually, exclude one-time items.

Quarterly revenues rose 10 percent to $839.4 million from $760.5 million in the same period last year. Analysts had a consensus revenue estimate of $664 million. Looking forward to the first quarter, the company expects earnings of $1.00 to $1.10 per share and revenues between $730 million and $780 million.

Analysts currently expect earnings of $0.88 per share and revenues of $592.3 million for the quarter. For full year 2022, Take-Two expects earnings between $1.95 and $2.20 and revenues of $3.14 billion and $3.24 billion.

Analysts currently expect earnings of $6.07 per share on revenues of $3.15 billion for the year.