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Take-Two Interactive Software profit beats consensus by 115.5% in fiscal Q2

Take-Two Interactive Software Inc. said its normalized net income for the fiscal second quarter ended Sept. 30 was 33 cents per share, compared with the S&P Capital IQ consensus estimate of 15 cents per share.

The per-share result swung to a profit from the prior-year loss of 44 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $36.5 million, compared with a loss of $35.0 million in the year-earlier period.

The normalized profit margin increased to 10.5% from negative 27.7% in the year-earlier period.

Total revenue increased 174.8% year over year to $347.0 million from $126.3 million, and total operating expenses rose 60.3% on an annual basis to $280.1 million from $174.8 million.

Reported net income came to $60.9 million, or 55 cents per share, compared with a loss of $46.3 million, or a loss of 58 cents per share, in the prior-year period.