By Reuters | Updated: 08 November 2023
Nov 8 (Reuters) – Take-Two Interactive Software (TTWO.O) climbed 9% on Wednesday after a report the latest installment in its best-selling “Grand Theft Auto” videogame franchise could be announced as early as this week, likely ending fans’ years-long wait.
Bloomberg News, which reported the news on Tuesday, said the announcement will be followed by a trailer for the game next month to celebrate the 25th anniversary of Rockstar Games, the Take-Two division behind “GTA”.
Several analysts have been predicting the latest installment would be an instant hit with billions of dollars in sales each year.
Take-Two, slated to report earnings later in the day, did not immediately respond to a Reuters request for comment.
A hack last year released dozens of development videos of “GTA VI”, showing footages of robberies, gunplay and open-world driving in what was one of the biggest gaming leaks.
Take-Two itself hinted at the prospect in May, saying it would launch several “groundbreaking titles” in 2024 and projecting a surge in net bookings to over $8 billion next year.
The game’s predecessor, “GTA V”, has garnered around $7.68 billion in sales since its launch in 2013 and ranks among one of the most profitable titles ever.
Take-Two was on track to add nearly $2 billion to its market value, based on the premarket share price of $148.6.
The stock has risen by nearly a third this year, partly due to growing expectations of a reveal for the “GTA VI”.
© Thomson Reuters 2023
