UPDATE: Take-Two Posts Surge In FQ3 Profit, Issues Weak Forecast

Take-Two Interactive Software TTWO posted a strong rise in its fiscal third-quarter earnings. Take-Two's quarterly net income surged to $71.4 million, or $0.66 per share, up from $14.1 million, or $0.16 per share, in the year-ago period. Its revenue surged to $415.8 million, from $236.3 million. Excluding one-time items, Take-Two earned $0.67 per share on revenue of $405 million in the latest period. However, analysts expected earnings of $0.55 per share on revenue of $363.9 million. For the current period, it projects adjusted earnings of $0.10 to $0.25 per share, on revenue of $235 million to $285 million. However, analysts expected earnings of $0.36 per share on revenue of $301.6 million. Take-Two shares gained 6.64% to $13.50 in after-hours trading.