Why Shares of Take-Two Interactive Software Are Surging Today

Shares of Take-Two Interactive Software (NASDAQ: TTWO) jumped on Wednesday after the company reported strong net bookings growth in its fiscal second quarter and raised its net bookings guidance for the full year. The stock was up about 12% at 11:50 a.m. EDT.

Take-Two reported second-quarter revenue of $443.6 million, up 5.6% year over year. Net bookings totaled $577 million, up 20.4% year over year and about $61 million higher than the average analyst estimate. The company's net bookings figure was previously referred to as net sales.

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Source: Fool.com