Take-Two Interactive (NASDAQ:TTWO) is expected to report Q1 earnings after the market close on Tuesday, March 10, with a conference call scheduled for 4:30 pm ET.
The consensus estimate is loss (73c) for EPS and $207.20M for revenue, according to First Call. Take-Two provided significantly lower guidance on the last earnings call for Q1 of a loss of (70c)-(80c) and revenue of $175M-$225M.
Take-Two CEO Ben Feder called the company's guidance "a prudent response to the difficult current and possible future business conditions."
Wedbush, who upgraded Take-Two shares on March 6 to a Buy on valuation, expects an in-line Q1 with their estimates of loss (70c) and $200M in revenue. Although Wedbush says there is not much about FY09 to get excited about, the firm does think the company’s recent share price decline fully reflects management’s cautious guidance, and disregards a potential Grand Theft Auto release in FY10, as well as better performance in the future.
Key items for the conference call will be: Forward guidance, comments on the game line-up for 2009, commentary on competition and demand for its games and an update on the search for a new COO.