Take-Two Interactive Stock Up Ahead of Earnings Report
On May 16th, Take-Two Interactive (TTWO) will be releasing its Q4 fiscal earnings report.
The company’s stock is up by 1.17% in anticipation of the report, which is expected to show $1.3 billion in earnings for the quarter. That would be a decrease of about 6.5% from the same time last year.
Take-Two’s stock dipped earlier in the week as trading opened on Monday, but it has since climbed to regain all of its losses from that drop. Currently, Take-Two stock is priced at $146.80 per share.
What Investors Have to Look Forward To
The video game publisher, which also owns Rockstar Games, just released Rally On, its newest entry in the premier tennis franchise Top Spin. The company has a number of mobile games to be released in the coming months, mostly through its subsidiary company Zynga. Take-Two is also providing ongoing support for Grand Theft Auto V, NFL 2K Playmakers, and WWE2K24.
New entries in the long-running Grand Theft Auto and Red Dead Redemption series are still a long way off, but the company did recently announce some big news. They are planning to purchase Gearbox Entertainment Company, who are best known for their top-selling Borderlands franchise.
Their next quarter might not be very exciting, as major new products are still a long way off and consumer spending has gone down this year on entertainment purchases. This is a stock that will shoot up sometime in the future on the back of announcements for long-running franchise entries.
At the moment, the company is spending considerable amounts of money to purchase studios and develop games and seeing little return on those investments. Shareholders will have to sit tight to see major gains on their stocks from Take-Two.
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