Market Updates
U.S. Movers: GameStop, Take Two Interactive
Scott Peters
17 May, 2024
New York City
Take Two Interactive declined 0.7% to $145.05 after the online game developer said Grand Theft Auto is now scheduled for its next release in the fall of 2025.
Total net revenue in the fiscal fourth quarter declined to $1.399 billion from $1.44 billion, net loss expanded to $2.9 billion from $610 million, and diluted loss per share soared to $17.02 from $3.62 a year ago.
GameStop Corp. declined 21.6% to $21.70 after the video game retailer posted weaker-than-expected preliminary quarterly results.
Revenue in the fiscal fourth quarter ending on February 3 declined to $1.794 billion from $2.226 billion, and net income increased to $63.1 million from $48.2 million a year ago, respectively.
The specialty retailer also plans to sell as many as 45 million shares in a secondary offering.
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