Take-Two forecasts annual adjusted sales below estimates on waning demand

:Take-Two Interactive Software Inc forecast its annual adjusted sales below expectations on Monday, crippled by waning demand for many of its titles as easing of COVID-19 constraints dampens stay-at-home gaming.

The surging sales in videogames fueled by lockdown-weary gamers has started to fade as people began venturing outside, with consumer spending on video games in the United States falling 11 per cent in June, according to research firm NPD. Last week, rival Electronic Arts Inc forecast quarterly adjusted sales below estimates, while Activision Blizzard had also delivered a disappointing second quarter.

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