Take-Two Interactive Software Hits 52-Week High After Earnings Beat (TTWO)

Shares of video game producer Take-Two Interactive Software Inc. TTWO ended Friday trading up 8.3% at $12.93 per share. The company's shares surged after it reported adjusted earnings of 67 cents per share that easily beat consensus analyst estimates 31 cents per share. CEO Ben Feder said, “We have achieved our goal of profitability in a year without a new release of Grand Theft Auto. Our better-than-expected revenue growth and margin expansion were driven by strong demand for our diverse portfolio of games, including the hit new titles Red Dead Redemption and NBA 2K11, as well as strong sales of catalog titles and digitally delivered content. I am also pleased to report that our 2K Sports division was profitable during the period.” The day's trading range for shares of Take-Two Interactive Software Inc was between $12.73 and a 52-week high of $13.62 per share. Analysts covering Take-Two Interactive Software Inc. (TTWO) stock give it a consensus price target of $12.75 per share. Trading volume for Take-Two Interactive Software Inc was extremely heavy, with 10.4 million shares traded today, far above the daily average volume of 1.5 million shares. Read more from Benzinga's Company news.