Take-Two Interactive Shares Surge on Strong Grand Theft Auto VI Pre-orders
Take-Two Interactive (TTWO) shares rose significantly, gaining over 7% during Tuesday trading, despite reporting a 15% year-over-year decline in fiscal second-quarter revenue to $1.5 billion. While the company missed top-line revenue estimates and saw an 18% drop in net bookings, its loss per share of $0.29 was notably better than the $0.86 analysts had anticipated. The primary driver for investor optimism is the upcoming launch of Grand Theft Auto VI on November 19. CEO Strauss Zelnick reported that pre-orders are reaching unprecedented levels, with research firm Sensor Tower indicating the title has already moved 9.69 million units worth $942 million in pre-sales. This performance suggests a massive commercial impact ahead of the official release.
Tickers: $TTWO
Topics: earnings report revenue miss stock price surge video games
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Part of the story Grand Theft Auto VI Achieves Record Pre-order Numbers on PlayStation and Xbox Stores (6 articles)