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Take-Two Interactive Software Inc. shares rose Friday after the videogame publisher’s studio Rockstar Games confirmed it is actively developing the next version of its lucrative “Grand Theft Auto” franchise.
Take-Two
TTWO,
shares rallied as much as 7% Friday, popping from a loss to a gain after the news was announced, differing from other videogame stocks that recently reported earnings — Electronic Arts Inc.
EA,
shares declined as much as 2%, and Activision Blizzard Inc.
ATVI,
shares were relatively flat. EA had forecast slower-than-expected growth in its earnings report late Tuesday, while Microsoft Corp.’s
MSFT,
$69 billion offer for Activision Blizzard cushioned that publishers ‘disappointing’ earnings report late Thursday.
In a blog post, Rockstar Games said that in addition to “Grand Theft Auto V” and “Grand Theft Auto Online” coming to Sony Group Corp.’s
SONY,
6758,
PlayStation 5 and to Microsoft’s Xbox X|S platforms on March 15, the studio was confirming recent speculation concerning the next major iteration of the series, what would ostensibly be called “Grand Theft Auto VI.”
See also: ‘Grand Theft Auto V” has made more money than any movie ever
“With the unprecedented longevity of GTAV, we know many of you have been asking us about a new entry in the Grand Theft Auto series,” Rockstar Games said in a statement. “With every new project we embark on, our goal is always to significantly move beyond what we have previously delivered — and we are pleased to confirm that active development for the next entry in the Grand Theft Auto series is well underway.”
“Grand Theft Auto V,” which was first released in late 2013, had more than $6 billion in all-time sales, making it the biggest selling media title of all time.
The announcement comes ahead of Take-Two’s earnings report scheduled after the close of markets on Monday. The studio said that it will share more details “as soon as we are ready.”
