Take-Two beats by $0.39, beats on revs; guides Q3 above consensus; guides FY08 EPS above consensus

Briefing.com

Posted: 2008-06-05 16:08:00

Reports Q2 (Apr) earnings of $1.52 per share, excluding non-recurring items, $0.39 better than the First Call consensus of $1.13; revenues rose 162.8% year/year to $539.8 mln vs the $499.1 mln consensus. On Grand Theft Auto IV co says that as of May 31, over 11 million units have been sold in to retailers and approximately 8.5 million units have been sold through to consumers. Co issues upside guidance for Q3, sees EPS of $0.45-0.55 vs. $0.32 consensus; sees Q3 revs of $325-375 mln vs. $322.25 mln consensus. Co issues upside EPS guidance for FY08, sees EPS of $1.65-1.85 vs. $1.53 consensus; sees FY08 revs of $1.4-1.5 bln vs. $1.41 bln consensus. Co said that Fiscal 2008 guidance reflects the release of the first installment of episodic content for Grand Theft Auto IV for Xbox 360 in the first quarter of fiscal 2009 instead of the fourth quarter of fiscal 2008 in order to provide a better balance in their release schedule. (MSFT, ERTS)