FILE PHOTO: The entrance to the Activision Blizzard Inc. campus is shown in Irvine, California, U.S., August 6, 2019. REUTERS/Mike Blake
The results signal resilience in the industry after it struggled last year with a slowdown in demand following a boom driven by stay-at-home orders imposed during the COVID-19 pandemic. "Legacy titles have proven themselves in the market and reduce the chance for consumers that they buy a crappy game," said Joost Van Dreunen, a lecturer at New York University's Stern School of Business.
While Take-Two's current-year outlook was poor due to a thin release slate, the company said it would launch several"groundbreaking titles" in calendar 2024, fanning expectations for the release of the long-awaited sequel to"GTA V".