By Angela Palumbo

Take-Two Interactive Software reported a narrower third-quarter loss than expected, giving Wall Street a dose of good news ahead of the release of several highly anticipated games due in the year ahead.

The videogame maker turned in a net loss of 71 cents a share from revenue of $1.36 billion. The consensus calls among analysts surveyed by FactSet were for a loss of 95 cents a share from revenue of $1.4 billion.

Take-Two said that a strong performance by the basketball videogame NBA 2K helped to offset moderation experienced in several of its mobile franchises.

The company responsible for Red Dead Redemption also reiterated a forecast that revenue for the full year will be between $5.57 billion and $5.67 billion.

"We're really excited about what's in market now and what we believe will be coming in the rest of the calendar year and beyond," Chief Executive Officer Strauss Zelnick said in an interview.

Some launches players can expect to come in the months ahead include Sid Meier's Civilization VII on Feb. 11, Mafia: The Old Country in the summer, and of course, the highly anticipated release of Grand Theft Auto VI in the fall.

"Obviously we feel great about what is to come with GTA 6, but we never claim success until we earn it -- until we deliver it," Zelnick said.

Before Take-Two's results, competitor Electronic Arts said in January that it expects bookings to fall following weakness in its football division. Disappointing sales of Dragon Age: The Veilguard were also a problem for EA.

But Take-Two reiterated a forecast that bookings for the year will be between $5.55 billion and $5.65 billion. Zelnick told Barron's that he doesn't believe there are any particular industry challenges in terms of the consoles that will be available to play Take-Two games.

A new console, the Nintendo Switch 2, is coming to market this year.

"Historically, we've supported Nintendo platforms selectively, we've supported them when the platform is right for the property at hand," Zelnick told Barron's. "...We haven't made any announcements, but I think you can expect it will be supportive when it makes sense."

Shares of Take-Two jumped 6% to $194.50 in after-market trading following earnings.

Write to Angela Palumbo at angela.palumbo@dowjones.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

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February 06, 2025 16:31 ET (21:31 GMT)

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