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Take-Two's stock went up as excitement grows for Grand Theft Auto 6, even though bookings dropped 18% last quarter.

ResultsRead the original at Benzinga
Bad for TTWO

Take-Two’s bookings fell 18% to $1.60 billion, beating analysts’ estimate but missing its own forecast, and game spending fell more than expected. Strong GTA 6 preorders and a higher revenue forecast help, but full-year bookings and profit forecasts remain below analyst estimates.

TTWO · Take-Two Interactive Software Inc.

AI read · Bad for TTWO

The AI's read

The company’s full-year forecasts remain below analyst estimates for bookings and adjusted profit. Spending on its games also fell more than expected. Strong GTA 6 preorders and a raised revenue forecast help. But the CEO says Take-Two will assess the game after launch before changing forecasts, so expected demand has not yet lifted its bookings or profit forecasts.

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