Take-Two Interactive Software Inc. (TTWO) shares surged 10.77% on Friday, buoyed by the video game publisher's better-than-expected Q3 earnings and renewed confidence in its upcoming game slate, including the highly anticipated release of Grand Theft Auto VI later this year.
The company reported a narrower loss for its fiscal Q3 ending December 31, 2024, beating analyst estimates on an adjusted earnings per share basis. While revenue came in slightly below expectations, net bookings grew 3% year-over-year, driven by the exceptional performance of its NBA 2K franchise.
A key catalyst propelling Take-Two's stock was the company reiterating its plan to launch Grand Theft Auto VI in Fall 2025. The latest entry in the blockbuster action-adventure series is expected to be a massive sales driver, coming over a decade after the release of GTA V, which has sold a staggering 210 million units to date.
Beyond GTA VI, Take-Two highlighted its robust pipeline for 2025, including Borderlands 4, Mafia: The Old Country, and Sid Meier's Civilization VII. CEO Strauss Zelnick expressed confidence that these marquee releases would drive record levels of net bookings in the next two fiscal years.
Despite some weakness in its mobile gaming segment, Take-Two's standout NBA 2K performance and the impending launch of GTA VI have investors eagerly anticipating a new growth phase for the video game giant. The positive outlook, combined with favorable analyst ratings, fueled Friday's substantial stock rally.
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