Take-Two Interactive Software Inc (NASDAQ:TTWO) reported fiscal second-quarter earnings that slightly topped expectations, but excitement over the announcement of Grand Theft Auto VI lifted the stock before its results were even announced.
Shares of the Rockstar Games parent climbed more than 2% in extended trading Wednesday after the company posted earnings of $1.22 a share on net bookings of $1.44 billion, compared to expectations of $1.03 per share on sales of $1.43 billion.
However, the stock jumped over 5% during the Wednesday session after the company announced that a trailer for the next game in the Grand Theft Auto franchise would be unveiled in December.
We are very excited to let you know that in early December, we will release the first trailer for the next Grand Theft Auto. We look forward to many more years of sharing these experiences with all of you.
Thank you,
Sam Houser
— Rockstar Games (@RockstarGames) November 8, 2023
Take-Two has hinted that the title could come in 2024. Grand Theft Auto V, which launched in 2013, remains a popular game a decade later.
Meanwhile, Take-Two said it expects full-year revenue between $5.45 billion and $5.55 billion, compared to the analyst consensus of $5.51 billion.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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