Take-Two Interactive Software sold over 15 million units of “Grand Theft Auto V” in the first two quarters of the year, as more people jumped into the action-adventure videogame to keep themselves entertained during shutdowns.
The company has sold 135 million units of the hit franchise since its launch in 2013, with sales of almost all console bases, including Sony Corp ‘s PlayStation and Microsoft Corporation’s Xbox, according to Bernstein analysts.
Take-two shares rose more than 37% this year to record levels the day after the blockbuster quarterly report. Touched 180.61.
“Grand Theft Auto V”, the seventh installment of the franchise, follows the story of three heroes, Trevor, Franklin and Michael, as they travel through a fictional California-like state to complete missions related to call-firing and shooting.
Take-Two has sold more than 25 million units of “Grand Theft Auto V” worldwide in the last 12 months, more than double a year ago.
Bernstein analysts say, “Our updated model ‘GTA6’ will be released on FY23. Their” GTA6 “bull case has 110 million lifetime units and franchise values of $ 4.19.4 billion, which” surpasses TTWK’s market cap”.
According to research firm NPD, the cost of video games rose 26% in June to $ 1.2 billion, as people turned to games for convenience during lockdowns and in-game content.
At least 10 brokerages have raised their price targets on company stock.