Take-Two Interactive reported Q2 adjusted revenue of $1.44 billion, meeting expectations

Business
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  • The company’s adjusted earnings per share for the quarter were $1.22, beating analyst estimates.
  • Take-Two gave a Q4 adjusted revenue guidance range of $1.3 billion to $1.35 billion.
  • The company reiterated its full-year adjusted revenue guidance range of $5.45 billion to $5.55 billion.
  • CEO Strauss Zelnick expressed optimism about the company’s growth trajectory and upcoming titles.
  • Take-Two’s stock rose 4.6% in after-hours trading.
  • Rockstar Games plans to release the first marketing trailer for the next Grand Theft Auto game in December.
  • Zelnick highlighted the high anticipation for the game and expressed optimism about the mobile game advertising market.
  • He stated that game subscription services like Microsoft’s Game Pass were not economically viable for large AAA games.