Grand Theft Auto IV's Record Debut a Boon to Take Two's Value

Take-Two Interactive Software (TTWO), which owns Grand Theft Auto IV publisher Rockstar Games, confirmed that the game has sold over 6 million copies since it was released on April 29, which generated over $500 million in sales. The publisher sold over 3.6 million copies of GTA IV during the first day alone, bringing in $310 million.

GTA IV's critical acclaim has matched its commercial acclaim. The online reviews aggregator Metacritic website's aggregate score for Grand Theft Auto IV is currently 99%, what the website calls "universal acclaim." It has received a number of perfect scores from outlets like IGN, GameSpot, GamePro, EGM, and our own PGNx Media.

The game's strong sales could fuel Take-Two's arguments that Electronic Arts' (ERTS) hostile takeover bid undervalues the company. EA's bid is currently at $25.74, while Take-Two's stock is trading at $26.26 due to the game's reception.

Grand Theft Auto IV's $500 million launch is now the biggest videogame launch, eclipsing last September's $300 million Halo 3 launch.

Comments

[User 91046:]

It's past time to forget EA and their cheap offer for TTWO. Obviously, TTWO will rise above the takeover offer. EPS should do quite well this quarter.

2008 May 08 12:42 PM

[User 91046:]

whynot

2008 May 08 12:45 PM