After tagging a new multi-year high during the regular session of trading, shares of Take-Two Interactive Software (TTWO: sentiment, chart, options) are about 1% higher in electronic trading. After the close, TTWO reported second-quarter earnings of $98.2 million, or $1.29 per share, compared to a loss of $51.2 million, or 71 cents per share, last year. Excluding charges, the company would have earned $115.4 million, or $1.52 per share. Sales for the period rose 160% to $539.8 million. Analysts were expecting earnings of $1.13 per share on revenue of $499.1 million. Take-Two attributed the gain to the 8.5 million Grand Theft Auto IV units sold through to consumers as of May 31.

Sentiment was mixed heading into the report. TTWO's Schaeffer's put/call open interest ratio (SOIR) of 0.71 ranks below 74% of all those taken during the past year, while 12% of its float is sold short. Furthermore, Wall Street is heavily bearish, as Zacks.com reports that 8 of the 9 analysts following TTWO rate the shares a "hold" or worse. There were no immediate upgrades following the report, but investors should keep an eye on the news wires heading into the open tomorrow.