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Take-Two Interactive Software profit misses consensus by 20.7% in fiscal Q2

Take-Two Interactive Software Inc. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 23 cents per share, compared with the S&P Capital IQ consensus estimate of 30 cents per share.

EPS fell 29.1% year over year from 33 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $26.7 million, a decrease of 27.1% from $36.5 million in the year-earlier period.

The normalized profit margin dropped to 6.3% from 10.5% in the year-earlier period.

Total revenue climbed 21.1% year over year to $420.2 million from $347.0 million, and total operating expenses grew 32.2% from the prior-year period to $370.4 million from $280.1 million.

Reported net income decreased 26.9% from the prior-year period to $44.5 million, or 39 cents per share, from $60.9 million, or 55 cents per share.