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Take-Two Interactive Holdings Inc. reported far weaker-than-expected revenue for its fiscal third quarter on Wednesday, and the company posted earnings that weren't directly comparable to estimates due to a tax benefit. Shares were halted prior to the release. The company delivered net income of $179.9 million, or $1.57 a share, up from $25.1 million, or 21 cents a share, a year earlier. Take-Two received a $108.7 million tax benefit in the quarter. related to deferred tax assets. Analysts surveyed by FactSet were expecting earnings per share of 40 cents on a GAAP basis. Take-Two's net revenue climbed to $1.249 billion from $480.8 million a year earlier, but the metric came in far below the FactSet consensus of $1.513 billion. Recurrent spending, including in-game purchases, made up 24% of revenue for the fiscal third quarter. The company expects fiscal fourth-quarter net revenue of $530 million to $580 million and GAAP earnings per share of 67 cents to 77 cents. Analysts had been predicting $609 million in net revenue and 84 cents in GAAP EPS. Peer Electronic Arts Inc. delivered a weaker-than-expected report on Tuesday afternoon. Take-Two's shares have dropped 13% over the past three months, as of Tuesday's close, while the S&P 500 has dropped 0.6%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.