Videogame publisher Take-Two Interactive Software raised its full-year revenue forecast on Monday, based on the success of its games NBA 2K, Grand Theft Auto V and Red Dead Redemption 2.
Videogame publisher Take-Two Interactive Software Inc raised its full-year revenue forecast on Monday, based on the success of its games NBA 2K, Grand Theft Auto V and Red Dead Redemption 2.
The company, which has been working to secure a foothold in the changing gaming landscape, has managed to prevail over challenges posed by the rise of mobile-based, free-to-play games with its series of popular games. NBA 2K19, which debuted last September, was the 5th best-selling game of 2018, according to research firm NPD.The company's raised forecast of $2.60 billion and $2.70 billion in adjusted revenue, up from its prior forecast $2.50 billion to $2.60 billion, was in line with estimates of $2.65 billion, according to IBES data from Refinitiv.
On an adjusted basis, the game publisher's revenue in the first quarter ended June 30 stood at $422.2 million, soaring above the average analyst estimate of $356.8 million.posted first-quarter revenue above estimates last month, boosted by the strength of its battle royale game Apex Legends.
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