Take-Two Shares Tumble; FY ’09 Outlook Falls Way Short

Take-Two Interactive (TTWO) shares are down sharply in late trading after the company provided guidance for its fiscal first quarter ending in January and for all of the October 2009 fiscal year that is dramatically lower than Street expectations.

For FY Q4 ended Oct. 31, the publisher of Grand Theft Auto and other videogames posted revenue of $323.4 million and a non-GAAP profit of two cents a share; the Street had been looking for $325.8 million and five cents.

That’s not good, but the real trouble is the guidance.

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