Red Dead 2 sells 23 million, publisher raises forecast, stock crashes anyway

While several major publishers have reported disappointing financials after 2018’s holiday releases, but Take-Two Interactive is a notable exception. Red Dead Redemption 2 sales have topped 23 million copies, and internal metrics suggest Red Dead Online is growing faster than GTA Online. On top of that, NBA 2K19 is doing better than its predecessor and the Switch port of Civilization VI has been a surprise hit. Despite all of that, Take-Two stock dropped by around 13% after the company posted its third-quarter financial results. The company exceeded its financial targets for the quarter, and is raising its outlook for the fiscal year ending March 31 to $2.94 billion. As analyst Daniel Ahmad notes on Twitter, investors expected Take-Two to raise its outlook even higher - hence the big dip in stock value when the actual numbers came out. Triple-A publishers have been struggling to please investors across the board in recent financial postings. There are, as always, a number of reasons why - impossibly huge titles like Fortnite are taking time and dollars away from other games, and traditional publishers are struggling to keep up with growth in the rest of the market.

from PCGamesN http://bit.ly/2WIPNKU