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Take-Two quarterly profit dips, but climbs for full fiscal 2018

Take-Two Interactive Software Inc.'s income in the fourth quarter of its fiscal 2018 fell from the year-ago quarter due to lower revenue, but increased for the full fiscal year.

The video game company's net income came in at $90.9 million, or 77 cents per diluted share, in the quarter that ended March 31, down from $99.3 million, or 89 cents per share, in the same period last year.

Net revenue was down to $450.3 million for the quarter from $571.6 million.

Take-Two's digital online distribution channel posted revenue of $301.4 million, up 8% from $278.7 million in the prior-year quarter.

Total net bookings came in at $411.4 million, up from $407.1 million, with net bookings from recurrent consumer spending rising 15% year over year and accounting for 58% of total net bookings.

Income from operations decreased to $87.8 million from $111.5 million.

For the full year, the company's net income climbed to $173.5 million, or $1.54 per diluted share, in fiscal 2018 from $67.3 million, or 72 cents per diluted share, in the previous fiscal year.

Take-Two expects net income in the range of $180 million to $211 million, or $1.53 to $1.80 per diluted share, in fiscal 2019.