New York Post

Video biz rev miss no prob!

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Take-Two Interactiv­e, the maker of “Grand Theft Auto” video games, forecast full-year revenue below Street estimates as it delayed the launch of a game, but at least two analysts said the outlook was not as bad as feared.

Take-Two’s shares rose as much as 11 percent to a record high of $76.70 in early trading on Tuesday, reversing course from a 6 percent drop before the bell when the company issued its forecast and fourth-quarter results.

The company’s tentative outlook for fiscal 2019 looked a lot like fiscal 2014, when the latest iteration of the “Grand Theft Auto” game launched, said Wedbush Securities analyst Michael Pachter.

“That suggests they have $4 in earnings power two years from now,” he added.

Take-Two said it expected net sales to top $2.5 billion in its the year. Shares rose 5.5 percent, to $72.83.

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