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GTA 5 Drives Take-Two-Interactive's Earnings and Revenue

Take-Two Interactive Software, Inc. TTWO 0.54% released its Q1 results after market close on Thursday. Earnings per share came in above Wall Street consensus expectations.

Take-Two Interactive reported EPS of $(0.21) and revenues of $311.6 million. Analyst consensus had an EPS estimate of $(0.29) and revenues of $259.4 million.

"Our results were driven by the continued strong performance of Grand Theft Auto V and NBA 2K, coupled with growth in revenue and bookings from recurrent consumer spending, including record bookings from Grand Theft Auto Online," said Strauss Zelnic, Chairman and CEO.

"We anticipate a robust holiday season for Take-Two, anchored by the upcoming launches of Mafia III, Sid Meier's Civilization VI, NBA 2K17 and WWE 2K17. We plan to continue to support our titles with an array of innovative offerings designed to promote ongoing engagement and drive recurrent consumer spending, including additional free content for Grand Theft Auto Online," stated Zelnic.

Take-Two management saw FY17 adjusted EPS at $2-$2.25 and sales of $1.75 billion-$1.85 billion. Additionally, the company saw Q2 adjusted EPS at $0.35-$0.45 vs. estimates of $0.22 and sales of $425 million vs. estimates of $338 million.

At time of writing, Take-Two Interactive traded at $43 in Thursday's after-hours session, up 6 percent.

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