TTWO Stock: Take-Two Interactive Software Surges on Q2 Earnings Beat

'Red Dead Redemption 2' has been a huge hit in the third quarter

By Karl Utermohlen, InvestorPlace Writer

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Take-Two Interactive Software (NASDAQ:TTWO) earnings were better than what analysts were calling for in their consensus estimate, while the unprecedented early success of Red Dead Redemption 2 also played a role in lifting TTWO stock after hours on Wednesday.

TTWO StockThe New York City-based video game company said that for its second quarter of fiscal 2018, it brought in adjusted earnings of $1.05 per share, which was stronger than the 93 cents per share that analysts were calling for in the Wall Street consensus estimate.

Take-Two Interactive Software also amassed net bookings of $583.4 million for the period, which surpassed the $549.9 that analysts predicted. The company’s adjusted earnings did decline year-over-year as its second quarter of fiscal 2018 raked in a profit of $1.09 per share, while its net bookings reached $583.4 million

The popular video game Red Dead Redemption 2 is a large part of the company’s recent success as the game has already sold 17 million copies to retailers worldwide. In its first eight days on the market, it has already outsold the original Red Dead Redemption’s sales over its first eight years.

TTWO stock is up more than 2.5% after the bell on Wednesday as the video game maker’s earnings topped expectations on a strong showing from the aforementioned open world Western game. Shares had been increasing more than 1.7% during regular trading hours on the day in anticipation of its results.


Article printed from InvestorPlace Media, https://investorplace.com/2018/11/ttwo-stock-take-two-interactive-software/.

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