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Take-Two revenue drops but beats Street

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(GlobalPost/GlobalPost)

SAN FRANCISCO (Reuters) - Video game publisher Take-Two Interactive Software on Tuesday reported a 23 percent drop in revenue in its fiscal fourth quarter but beat Wall Street expectations, helped by sales of "Grand Theft Auto V" and "NBA 2K14."

Take-Two, which also publishes "BioShock Infinite," said non-GAAP net revenue was $233.2 million in the quarter ended March, compared with $303.1 million a year ago. That surpassed the $202.51 million average estimate of analysts polled by Thomson-Reuters I/B/E/S.

(Reporting by Malathi Nayak; Editing by Steve Orlofsky)

http://www.globalpost.com/dispatch/news/thomson-reuters/140513/take-two-revenue-drops-beats-street