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Take-Two Interactive stock surges around earnings beat, new video game releases

Yahoo Finance Live discusses the rise of Take-Two stock around earnings beat, the company's new video game releases, and the video game demand amid the economic slowdown.

Video transcript

BRAD SMITH: Let's also talk about shares of Take-Two, Rob Base's perhaps favorite stock here. Anyway, Take-Two rallying today after the company beat analysts' estimates on the top and bottom line in the latest quarter, on strong demand from legacy titles, "NBA 2K" and "Grand Theft Auto." The company also said that it expects to deliver 36 video game titles through 2025 and 2026 here. So that's significant for Take-Two.

We are taking a look at the actuals versus some of the estimates that came in. And just to put some numbers on this, "NBA 2K" and "Grand Theft Auto" shares for the company, as you were seeing them move higher here during the-- during the market activity, the adjusted sales grew by 65% to reach that $1.39 billion marker here after the fourth quarter. So that is particularly interesting.

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And of course, just the Take-Two slew of contents that they've been able to pump out at this point, is significant just in terms of the equity that they have in some of those names. But it's just a matter of, all right, is this other deal that's looming over the rest of the gaming industry gonna be a major competitive, kind of, headwind?

JULIE HYMAN: The numbers were decent, right? The company's forecast is below estimates. It seems like a lot of the chatter this morning is around "Grand Theft Auto 6," that it might come out in fiscal 2025. So there's a lot of chatter about that. There's a lot of optimism around that.

So yeah, the stock is higher on the numbers but it really seems like the extra lift, if you will, the outsized lift, has to do with speculation around "GTA 6" this morning or--

BRAD SMITH: Yeah. Absolutely.

JULIE HYMAN: --the enthusiasm around that.

BRAD SMITH: Part of their portfolio management measures that they talked about during the quarter.

JULIE HYMAN: Yeah.