The recent GTA 5 release date announcement placing the game’s launch in spring 2013, along with better-than-expected results have given a boost to Take-Two stock (TTWO). The video game company’s shares increased by 5% on Wednesday morning after their latest earnings reports and news. They also have the potential on the horizon for their stock to soar above its current price of $11.24, as of this report.
The GTA V release date timetable was announced by Rockstar Games and other sources just over a day ago. There is no solid date for the game’s launch, but it was noted that it will be here in the spring of 2013, likely before the end of March, as some have speculated. The game will be available for PS3 and Xbox 360, with no word on a PC version as of this report.
The other good news for Take-Two is about the company’s earnings results. They reported adjusted earnings of $10.2 million or 11 cents per share for the quarter which ended on September 30. Stock analysts were expecting the company would report a loss of 18 cents per share on revenue of $240.7 million. The strong earnings that Take-Two reported were likely tied to “Borderlands 2.”
Now the company will look towards the future with its “Bioshock 2″ game sales, as well as the pre-orders and sales of “Grand Theft Auto V.” Both of these titles, but particularly the GTA 5 one, are getting investors excited about the stock again. It won’t be surprising to see the “Grand Theft Auto” title to sell major units and spur the stock to even higher levels than before.
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