By Dhirendra Tripathi
Investing.com – Take-Two Interactive Software stock (NASDAQ:TTWO) slipped 1% in Friday’s premarket after the video game publisher delayed the launch of enhanced versions of its franchise Grand Theft Auto by around five months.
Release of expanded versions of Grand Theft Auto V and Grand Theft Auto Online for PlayStation 5 and Xbox Series X|S, scheduled for November, will now take place in March. The franchise, widely acknowledged as one of the most popular of all time, is a cash-cow for the company.
Grand Theft Auto series has sold over 350 million units and Grand Theft Auto V 150 million so far since release.
The company said this will allow Rockstar Games, Take-Two’s fully-owned label, “additional time to further polish the final products”.
Reiteration of its annual guidance did little to cheer its backers waiting for the new video games, coming as it does when demand is booming, consumer preference remains fickle and competition intense.
For the financial year ending March 31, net revenue is expected to be around $3.19 billion at midpoint while its expected range for net profit is seen around $244 million.
Current-quarter revenue is seen at $765 million at the midpoint of its range.