By raising its annual guidance Tue, video game maker Take-Two Software (TTWO) could force Electronic Arts (ERTS) to hike its $2B bid for the company, argues research firm Wall Street Strategies. Citing a better than expected 1Q and surprisingly strong preorders for a game to be released in a few weeks, Take-Two said it now expects fiscal 2008 earnings of $1.35 to $1.55 a share on revenue of $1.25B to $1.4B.
The company had expected per-share earnings of $1.30 to $1.50. Analysts expected per-share earnings of $1.35 on revenue of $1.36 billion. "Without a doubt the saga surrounding ERTS' bid is about to get a bit more complex," wrote the Wall Street Strategies research firm.
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