Take-Two Interactive’s stock rises on ‘Grand Theft Auto’ news.

Take-Two Interactive Software (TTWO) exceeded forecasts for its fiscal second quarter late Wednesday. The revelation was overshadowed by news of the latest game in its popular “Grand Theft Auto” franchise, which sent TTWO shares higher.

In the fiscal quarter ended Sept. 30, the New York-based corporation earned an adjusted $1.22 per share on net bookings of $1.44 billion. FactSet polled analysts, who predicted earnings of $1.03 per share on sales of $1.43 billion. Take-Two earned an adjusted $1.30 per share on net bookings of $1.505 billion in the prior year.

Take-Two’s profitability projection for the current quarter and fiscal year was higher than expected by Wall Street, but its sales outlook was mixed.

Take-Two plans to earn an adjusted 97 cents per share on net bookings of $1.325 billion in the current quarter, which ends on December 31. This is based on the midpoint of its forecast. Analysts expected earnings of 94 cents per share on $1.43 billion in revenue in the fiscal third quarter.

Take-Two expects adjusted earnings per share of $4.06 on net bookings of $5.5 billion for the entire fiscal year 2024. Wall Street expected profits per share of $3.21 on sales of $5.51 billion.

TTWO Stock Rises Following Report
TTWO shares rose 1.5% to 145.68 in after-hours trading on the stock exchange today. TTWO shares rose 5.2% during the regular session on Wednesday, closing at 143.47.

According to IBD MarketSmith charts, TTWO stock has been consolidating over the past 17 weeks, with a purchase price of 153.84.

Leave a Reply