Move over, Madden and FIFA: NBA2K is taking at winning shot at the sports video games throne. Today Take-Two CEO Strauss Zelnick announced that business is booming for the company, with NBA2K18 and Grand Theft Auto V driving the ship. On an earnings call, Zelnick announced that GTA 5 has shipped over 85 million copies since September 2013. Also: NBA2K18 is skyrocketing in sales, according to CNBC:
In just a month since its release in September, Take-Two’s “NBA 2K18”, the latest version of its basketball simulation game, has already become the best-selling sports game this year, according to research firm NPD.
All things considered, this is amazing news for Take-Two shareholders… Take-Two is rallying like crazy, up almost 11% since the earnings call. It’s a big boom for a brand that’s already booming…
Something to note: Over the last five years, Take-Two has EXPLODED. Five years ago to the date, stock was only $11 and change.
A few more important notes, via Take-Two:
Take-Two Interactive Software gave a stronger-than-expected revenue forecast for the holiday quarter, unlike rivals Activision Blizzard and Electronic Arts, on strong demand for its new NBA videogame and the continued success of “Grand Theft Auto.”
Shares of Take-Two rose more than 8 percent in extended trading on Tuesday, after the company also raised its full-year adjusted revenue forecast and reported second-quarter revenue that topped market estimates.
The company forecast current-quarter revenue of $610 million to $660 million, well above analysts average estimate of $546 million, according to Thomson Reuters.
Also, worth noting: A big thing driving sales for NBA2k18 is the push on Nintendo Switch. It’s selling like hot cakes on the platform…
In addition to versions for X-Box, PlayStation, and PC, NBA 2K18 is our debut offering for the Nintendo Switch. So far, we’re very pleased with the title’s performance on this new platform and we anticipate continued strong demand across all platforms heading into the holiday season. Along with growth in game sales, our NBA 2K series continues to benefit from increasing engagement and recurrent consumer spending.
Gonna be an even bigger rally when Red Dead Redemption eventually hits shelves.