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Take-Two Shares Rising Ahead of Earnings as a Result of the Expected Release of GTA 6

As investors got the first indication that the upcoming Grand Theft Auto game is real, Take-Two Interactive shares shot up as much as 9.4% in pre-market trade on Wednesday. The business is scheduled to release its fiscal second-quarter 2024 results following the bell.

“The first trailer for the upcoming Grand Theft Auto” will be released in early December, coinciding with the studio’s 25th anniversary, according to a tweet made by Rockstar Games president Sam Houser on X, formerly Twitter, on Wednesday morning. Fans have been referring to the upcoming game as GTA VI, or GTA 6, even though the title hasn’t been revealed yet.

The corporation may make an official announcement as early as this week, according to a report from Bloomberg on Tuesday night. That might provide you further details on the game’s release date.

Take-Two Interactive has indicated that 2024 may be the launch year. The business announced in May that it would embark on its next phase of expansion in April 2024, for the fiscal year 2025, with the goal of delivering “several groundbreaking titles that we anticipate will set new standards of quality and success and enable us to deliver over $8 billion in Net Bookings and over $1 billion in Adjusted Unrestricted Operating Cash Flow.”

In 2013, GTA V was made available after being teased in 2011. After ten years, it is still well-liked.

As of right now, “Grand Theft Auto V,” a game developed by Microsoft subsidiary Mojang, is the second best-selling title ever, measured in units sold. Rockstar, a Take-Two company, is in charge of development. Take-Two’s $23.16 billion market cap and rising share price are mostly attributable to Rockstar’s properties, which include Grand Theft Auto and Red Dead Redemption.

2024 and beyond would be a “important” time for the corporation, the company hinted earlier this year. CEO of Take-Two Strauss Zelnick stated at the time in a statement, “We continue to believe we are setting our business for a significant inflection point in fiscal 2025.”

Source (CNBC)

SourceCNBC
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