11:36 AM EDT, 08/05/2024 (MT Newswires) -- Take-Two Interactive Software ( TTWO ) is expected to deliver earnings upside to begin the fiscal year when it reports fiscal Q1 results Thursday, Wedbush said in a Monday note.

Wedbush analysts, including Nick McKay, expect Q1 net bookings of $1.250 billion and EPS of $0.10, against consensus of $1.253 billion and $0.02 loss, respectively.

"Our app ranking checks indicate another strong quarter for the ascending Match Factory! mobile title, with Toon Blast appearing to maintain its momentum from Q4:24," the analysts said.

They also expect the company to retain its fiscal 2025 outlook. Last quarter, Take-Two lowered its expectation for fiscal year 2025 net bookings as it narrowed the release window for GTA VI.

"It has been eight months since the first trailer, and the vast potential of the game remains the focus," the analysts said. "We continue to have a favorable view of the stock as we approach the launch of GTA VI next year."

Wedbush maintained its outperform rating and $190 price target on the stock.

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