Take-Two beats by $0.39, beats on revs; guides Q4 EPS below consensus, revs below consensus

Reports Q3 (Jul) earnings of $0.93 per share, excluding non-recurring items, $0.39 better than the First Call consensus of $0.54; revenues rose 110.2% year/year to $433.8 mln vs the $381.3 mln consensus. Co issues downside guidance for Q4, sees EPS of $0.01-0.05, excluding non-recurring items, vs. $0.19 consensus; sees Q4 revs of $285-335 mln vs. $350.25 mln consensus. Co lowers Q4 guidance primarily due to the significantly better than expected Q3 results and shifts in the timing of certain product releases. "Take-Two's exceptionally robust third quarter results reflected our continuing efforts to build a diverse roster of outstanding entertainment software brands, supported by an increasingly productive and efficient business organization. Thanks in particular to the creativity of our global development teams and their passion for producing great entertainment, we are benefiting from a portfolio that is the strongest in our Company's history, as well as one of the most valuable in our industry."