Take-Two stock falls after weak outlook

Take-Two Interactive Software Inc. stock fell more than 5% in the extended session Monday, after the company reported a weaker-than-expected outlook and missed consensus net bookings estimates. The videogame maker reported fourth-quarter net income of $56.8 million, or 50 cents a share, compared with $91 million, or 77 cents a share, in the year-ago period. Revenue rose to $539 million from $450 million in the year-ago period. Take-Two reported net bookings, a figure commonly used by videogame companies, of $488.4 million up from $411.4 million in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of 75 cents a share on net bookings of $507 million. For the first quarter, analysts model adjusted earnings of 39 cents a share on bookings of $421 million. Analysts model full-year adjusted earnings of $4.89 a share on net bookings of $2.8 billion. Take-Two said it expects first quarter earnings of 65 cents to 75 cents a share on bookings of $310 million to $360 million. The videogame company said it expects full-year bookings of $2.5 billion to $2.6 billion. Take-Two stock has fallen 13.9% in the past year, with the S&P 500 index rising 5.6%.

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