{"id":46359,"date":"2023-08-09T11:37:15","date_gmt":"2023-08-09T15:37:15","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/take-two-stock-ticks-higher-as-gta-v-approaches-its-10th-birthday-sequel-anticipation-forgives-outlook\/"},"modified":"2023-08-09T11:37:17","modified_gmt":"2023-08-09T15:37:17","slug":"take-two-stock-ticks-higher-as-gta-v-approaches-its-10th-birthday-sequel-anticipation-forgives-outlook","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=46359","title":{"rendered":"Take-Two stock ticks higher as \u2018GTA V\u2019 approaches its 10th birthday, sequel anticipation forgives outlook"},"content":{"rendered":"
\n

Take-Two Interactive Software Inc. shares gained in the extended session Tuesday after the videogame publisher missed on results and lowered its outlook, while reminding gamers that the next iteration of \u201cGrand Theft Auto\u201d is right around the corner. <\/p>\n

Take-Two
\n TTWO,
\n -2.03%<\/bg-quote>,<\/span>
\n also known for its \u201cRed Dead Redemption\u201d franchise under its Rockstar Games label, along with its \u201cBorderlands\u201d and \u201cNBA2K\u201d games under its 2K label, forecast a second-quarter loss of $1 to 90 cents a share on revenue of $1.26 billion to $1.31 billion and net bookings of $1.4 billion to $1.45 billion. <\/p>\n

\n

For the second quarter, analysts expect an unadjusted loss of 70 cents a share on revenue of $1.4 billion and net bookings of $1.48 billion. <\/p>\n

For the year, Take-Two forecast a loss of $3.20 to $2.95, down from a previous range of $3.05 to $2.80 a share, on an unchanged revenue of $5.37 billion to $5.47 billion and net bookings of $5.45 billion to $5.55 billion. For fiscal 2024, the Street estimates an unadjusted loss of $2.61 a share on revenue of $5.51 billion and net bookings of $5.56 billion.<\/p>\n

\u201cOur teams are making excellent progress on our strategic-focus areas, including the advancement of our eagerly anticipated development pipeline and capitalizing on our revenue-driven opportunities and synergies, all while maintaining a deep focus on efficiency,\u201d said Strauss Zelnick, Take-Two chairman and chief executive, in a statement, in an apparent nod to high anticipation of \u201cGTA VI.\u201d<\/p>\n

A quarter ago, Take-Two shares rallied after the company\u2019s outlook appeared to confirm a timeline for the next iteration of its blockbuster \u201cGrand Theft Auto\u201d videogame franchise.<\/p>\n

\u201cWe remain confident that we are positioning our business for a significant inflection point in fiscal 2025, which we believe will include new record levels of operating performance,\u201d Zelnick said.<\/p>\n

For the fiscal first quarter, Take-Two\u00a0reported a loss of $206 million, or $1.22 a share, compared with a loss of $104 million, or 76 cents a share, in the year-ago period. Total net revenue rose to $1.28 billion from $1.1 billion in the year-ago quarter, while net bookings came in at $1.2 billion. <\/p>\n

Analysts surveyed by FactSet estimate expected an unadjusted loss of $1.22 a share on revenue of $1.35 billion and net bookings of $1.34 billion. Take-Two had forecast a loss of $1.27 to $1.17 a share on revenue of $1.34 billion to $1.39 billion, and net bookings of $1.31 billion to $1.36 billion. <\/p>\n

Read: <\/strong> \u2018GTA 6\u2019 is coming, and Take-Two stock soars in \u2018tremendous\u2019 anticipation <\/p>\n

Take-Two shares rose 2.4% after hours, following a 0.7% decline to $140.14 during the regular session. Year to date, Take-Two shares are up 34.6%, while rival EA is up 0.4%, compared with a 17.2% gain by the S&P 500 index
\n SPX,
\n -0.56%<\/bg-quote>,<\/span>
\n and a 32.7% rise by the tech-heavy Nasdaq Composite
\n COMP,
\n -1.14%<\/bg-quote>.<\/span>\n <\/p>\n

Read:\u00a0<\/strong>The most lucrative videogame in history is getting a sequel, and boosting damaged game stocks<\/p>\n

After more than a decade, \u201cGrand Theft Auto VI\u201d is set as the sequel to the most successful videogame of all time that gamers and investors have been anxious to see. <\/p>\n

\u201cGrand Theft Auto V\u201d was officially launched on Sept. 17, 2013, for Sony Group Corp.\u2019s
\n SONY,
\n -6.88%<\/bg-quote><\/p>\n

6758,
\n +0.08%<\/bg-quote>
\n PlayStation 3 and Microsoft Corp.\u2019 s
\n MSFT,
\n -1.21%<\/bg-quote>
\n Xbox 360, for the PlayStation 4 and Xbox One on Nov. 18, 2014, and for PCs on April 14, 2015. Since its release, the franchise has brought in well over $6 billion in sales.<\/p>\n

Shares of Electronic Arts Inc.
\n EA,
\n -0.29%<\/bg-quote>
\n fell under pressure earlier in the month, after the videogame publisher\u2019s earnings report and forecast.<\/p>\n

Meanwhile, Microsoft Corp. got a three-month extension of its deadline to close its acquisition of Activision Blizzard Inc.
\n ATVI,
\n -0.03%<\/bg-quote>
\n to Oct. 18, while it takes care of outstanding antitrust concerns.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Take-Two Interactive Software Inc. shares gained in the extended session Tuesday after the videogame publisher missed on results and lowered its outlook, while reminding gamers that the next iteration of \u201cGrand Theft Auto\u201d is right around the corner. Take-Two TTWO, -2.03%, also known for its \u201cRed Dead Redemption\u201d franchise under its Rockstar Games label, along […]<\/p>\n","protected":false},"author":1,"featured_media":10960,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-46359","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nTake-Two stock ticks higher as \u2018GTA V\u2019 approaches its 10th birthday, sequel anticipation forgives outlook | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Take-Two Interactive Software Inc. shares gained in the extended session Tuesday after the videogame publisher missed on results and lowered its outlook,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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