Take-Two Interactive Volatile After Earnings Report

Take-Two Interactive TTWO shares have bounced between $19.38 and $21.60 in a volatile after-hours trading session. Revenue for the quarter was 28.4 percent lower than the same period a year ago, however the report smashed the analyst consensus by 15.73 percent. BioShock Infinite is responsible for much of the increase in revenue. EPS dropped by 44.7 percent year over year, but toppled the estimate by 110 percent at $0.21. General and administrative expenses increased significantly as a percent of sales, but marketing was greatly reduced. Looking forward, Take-Two sees first quarter EPS ranging from a $0.23 loss to a $0.35 loss. This is a huge reduction to the $0.10 loss analysts predicted. Revenue for the quarter is projected to be just $120 million to $135 million compared to the $211.3 million estimate. The full year estimate, however, is closer to the analyst consensus. The company sees EPS ranging from $0.8 to $1.05 versus $1.05 and revenue is supposed to range from $1.35 billion to $1.45 billion versus $1.37 billion. Shares have settled out just below $20, down 3.44 percent from Tuesday's close.