Grand Theft Auto V Smashes 24-Hour Sales Record

by Christopher Freeburn | September 19, 2013 9:51 am

Grand Theft Auto V Smashes 24-Hour Sales Record

grand theft auto v Grand Theft Auto V Smashes 24 Hour Sales Record[1]Shares of Take-Two Interactive Software (TTWO[2]) climbed almost 3% in Thursday morning trading after it announced hefty sales for the launch[3] of the latest installment of the Grand Theft Auto video game franchise.

The company said that Grand Theft Auto V generated more than $800 million in worldwide sales on its first day in release. The game has already exceed analysts’ sales projections and is now expected to eclipse earlier estimates of $1 billion in sales during its first month, Bloomberg noted.

An analyst at Piper Jaffray noted that initial sales of the game were so high that prior forecasts that Take-Two would sell 14 million units by the end of this month now looked “very conservative.” The company appears to have sold between 10 million and 12 million copies of the game during just the first 24 hours. In light of the sales boom, he predicted that the game could sell up to 25 million units by the end of first quarter of 2014.

Grand Theft Auto V‘s launch sales leapt past the $500 million in first day sales produced by Activision Blizzard‘s (ATVI[4]) Call of Duty: Black Ops II late last year.

The video game was much anticipated by gamers and was predicted to break records[5].

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2013/09/grand-theft-auto-v.png
  2. TTWO: http://studio-5.financialcontent.com/investplace/quote?Symbol=TTWO
  3. hefty sales for the launch: http://www.bloomberg.com/news/2013-09-18/take-two-says-grand-theft-auto-tops-800-million-in-first-day.html
  4. ATVI: http://studio-5.financialcontent.com/investplace/quote?Symbol=ATVI
  5. was predicted to break records: http://investorplace.com/2013/09/grand-theft-auto-5-aims-for-sales-records/

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