Shares of Take-Two Interactive Software Inc (TTWO) surged 5.52% in after-hours trading on Thursday, following the release of its fiscal first-quarter results and raised outlook for the year. The video game publisher reported better-than-expected sales and provided an optimistic forecast, boosting investor confidence.
Take-Two's quarterly sales reached $1.423 billion, surpassing analyst estimates of $1.307 billion by 8.86%. This represents a significant 16.84% increase compared to the same period last year. The company also reported a narrowed net loss of $11.9 million and earnings per share of $0.07, showing improved financial performance.
Adding to the positive sentiment, Take-Two raised its outlook for the fiscal year ending March 31, 2026. The company now expects net bookings to range from $6.05 billion to $6.15 billion, up from previous estimates. Investors were also enthused by the announcement of upcoming game releases, including the highly anticipated "Grand Theft Auto VI," scheduled for launch on May 26, 2026, for PS5 and Xbox Series X|S. Other titles such as "WWE 2K26" and "Project ETHOS" are also planned for fiscal 2026, further strengthening Take-Two's game portfolio.
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