Take-Two Interactive Software Inc. raised its annual guidance as the videogame publisher posted better-than-expected results for the latest quarter on continued growth among its most popular franchises.

For the year ending in March, the company raised its outlook on an adjusted basis to per-share earnings of $1 to $1.15 and revenue of $1.325 billion to $1.425 billion, from its previous estimate for per-share profit of 75 cents to $1 and revenue of $1.3 billion to $1.4 billion.

For the holiday quarter, the company forecast per-share earnings of 40 cents to 50 cents and revenue of $400 million to $450 million. Analysts polled by Thomson Reuters expected per-share profit of 45 cents and revenue of $453 million.

The videogame publisher is best known for its "Grand Theft Auto" and "NBA 2K" franchises. Like its competitors Electronic Arts Inc. and Activision Blizzard Inc., Take-Two has shifted its focus in recent years to selling content delivered over the Internet, including full-game downloads, expansion packs, subscriptions and virtual goods.

Chief Executive Strauss Zelnick said in prepared remarks on Thursday that the latest quarter's results were anchored by the launch of NBA 2K16, continuing demand for Grand Theft Auto V and strong growth in recurrent consumer spending.

Take-Two, like other videogame makers, provides adjusted figures that spread sales out over the estimated life of the sold videogame.

On that basis, which Take-Two and analysts prefer to use as a measure of the company's operating performance, revenue in the quarter ended Sept. 30 more than doubled to $364.9 million, above the company's guidance for between $275 million and $325 million.

Adjusted earnings, which also exclude certain one-time items, were 30 cents a share, topping the company's forecast for 5 cents to 15 cents.

Overall, under generally accepted accounting rules, Take-Two Interactive reported a profit of $54.7 million, or 55 cents a share, compared with a year-earlier loss of $41.4 million, or 51 cents a share, a year earlier. Revenue more than doubled to $347 million.

Write to Tess Stynes at tess.stynes@wsj.com

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(END) Dow Jones Newswires

November 05, 2015 17:15 ET (22:15 GMT)

Copyright (c) 2015 Dow Jones & Company, Inc.
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