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Take-Two Interactive Software fiscal Q2 loss narrows YOY

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Take-Two Interactive Software fiscal Q2 loss narrows YOY

Take-Two Interactive Software Inc. said its normalized net income for the fiscal second quarter ended Sept. 30 was a loss of 44 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 59 cents per share.

The per-share loss decreased 27.1% year over year from 60 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $35.0 million, compared with a loss of $53.1 million in the prior-year period.

The normalized profit margin climbed to negative 27.7% from negative 35.7% in the year-earlier period.

Total revenue fell 15.2% on an annual basis to $126.3 million from $148.8 million, and total operating expenses fell 22.3% from the prior-year period to $174.8 million from $224.9 million.

Reported net income came to a loss of $41.0 million, or a loss of 51 cents per share, compared with a loss of $76.5 million, or a loss of 100 cents per share, in the year-earlier period.