Take-Two Interactive Software Inc. (NASDAQ: TTWO) reported its fiscal first-quarter financial results Monday after the markets closed. The company had $0.31 in earnings per share (EPS) on $275.3 million in revenue versus Thomson Reuters consensus estimates of $0.36 in EPS on $351.41 million in revenue. The same quarter from the previous year had a net loss of $0.14 per share on $151.61 million in revenue.

The largest contributors to net revenue in fiscal first quarter were Grand Theft Auto V and Grand Theft Auto Online, NBA 2K15, Borderlands: The Handsome Collection and WWE 2K15.

The company gave guidance for the fiscal second quarter and the 2016 fiscal year. For the second quarter it expects EPS in the range of $0.05 to $0.15 and net revenue in the range of $275 million to $325 million compared to consensus estimates of a net loss of $0.22 per share on $189.33 million in revenue. For fiscal 2016 the company expects EPS in the range of $0.75 to $1.00 and net revenues in the range of $1.3 billion to $1.4 billion versus consensus estimates of $1.08 in EPS on $1.43 billion in revenue.

Strauss Zelnick, Chairman and CEO of Take-Two, commented on earnings:

Our business continued its positive momentum during the fiscal first quarter, enabling Take-Two to deliver significant growth in revenue, Non-GAAP earnings and cash flow. These results were driven by strong consumer demand for Grand Theft Auto V, NBA 2K15 and an array of other titles, along with better-than-expected growth in recurrent consumer spending.

He continued:

Fiscal 2016 is off to a solid start and promises to be another year of meaningful Non-GAAP profits for our organization. We have a robust development pipeline and are well-positioned to generate revenue growth and margin expansion in future years, and returns for our shareholders over the long-term.

During fiscal first quarter 2016, the Company’s cash and short-term investments balance increased to $1.191 billion as of June 30, 2015, up from $1.098 billion as of March 31, 2015.

Shares of Take-Two closed Monday down 1.7% at $30.94. Following the release of the earnings report, shares were initially down 6.3% at $29.00. The stock has a consensus analyst price target of $34.26 and a 52-week trading range of $20.13 to $32.71.

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