NEW YORK — In a story Tuesday about Take-Two Interactive Software Inc.’s quarterly results — generated by Automated Insights using data from Zacks Investment Research — The Associated Press reported erroneously that the company’s adjusted profit was 52 cents and missed estimates. On an adjusted basis, Take-Two earned $1.09 per share, beating the average analyst estimate.
A corrected version of the story is below:
Take-Two reports 2Q loss
Take-Two Interactive reports 2nd-quarter loss of $2.7 million
NEW YORK — Take-Two Interactive Software Inc. (TTWO) on Tuesday reported a fiscal second-quarter loss of $2.7 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the New York-based company said it had a loss of 3 cents. Earnings, adjusted for stock option expense and amortization costs, came to $1.09 per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.
The publisher of “Grand Theft Auto” and other video games posted revenue of $443.6 million in the period. Its adjusted revenue was $577 million, also topping Street forecasts. Six analysts surveyed by Zacks expected $516.9 million.
For the current quarter ending in January, Take-Two said it expects revenue in the range of $610 million to $660 million.
Take-Two shares have more than doubled since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $106.39, more than doubling in the last 12 months.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TTWO at https://www.zacks.com/ap/TTWO