Gaming company Take-Two Interactive Software, Inc. (NASDAQ: TTWO) announced its third-quarter results Monday after the closing bell, reporting earnings and revenues that exceeded expectations.
Third-quarter revenues dropped to $860.9 million from $930.1 million in the corresponding period of 2020 but came in above Wall Street’s projection.
However, net income increased to $182.2 million or $1.57 per share in the third quarter from $163.6 million or $1.43 per share a year earlier, aided by a decline in costs. Analysts had predicted a weaker bottom-line performance.
Read management/analysts’ comments on Take-Two’s Q3 results
The company’s stock closed Monday’s regular trading higher but reversed the trend during the extended session and lost about 4%.
