Take-Two Interactive records Q1 loss

By @ibtimes on

Video game publisher Take-Two Interactive swung to a quarterly loss as the maker of Grand Theft Auto sold fewer video games to customers than a year earlier.

The company's net loss was $8.7 million, or 11 cents per share, compared to a profit of $26.3 million, or 32 cents a year earlier.

Its first-quarter revenue fell 10 percent to $334.4 million, which came in below Wall Street's average estimate of $351.2 million.

For the second-quarter, Take-Two expects revenue between $70 million to $85 million and an adjusted loss between 55 cents and 65 cents per share.

For the full year, it expects revenue between $1 billion and $1.1 billion and earnings of 10 cents to 35 cents per share, which is in line with Wall Street's estimates.

(reporting by Liana B. Baker, editing by Bernard Orr)

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