Take-Two shares were down $3.09, or 28%, which resulted in $7.83 in premarket trading which scared analysts as well as investors. The weak forecast was blamed on the disappointing sales of its "Major League Baseball" titles. The overall video game industry has weathered a tough year, with consumers cutting back on discretionary purchases.
The company's chairman, Strauss Zelnick, said “Take-Two won't meet its goal next year of turning an operating profit on an adjusted basis.”
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About Take-Two Interactive Software, Inc.
Headquartered in New York City, Take-Two Interactive Software, Inc. is a global developer, marketer, distributor and publisher of interactive entertainment software games for the PC, PlayStation®3 and PlayStation®2 computer entertainment systems, PSP® (PlayStation®Portable) system, Xbox 360® video game and entertainment system from Microsoft, Wii™, Nintendo DS™, iPhone™ and iPod® touch. The Company publishes and develops products through its wholly owned labels Rockstar Games and 2K, which publishes its titles under 2K Games, 2K Sports and 2K Play. Take-Two also distributes software, hardware and accessories in
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