Take-Two Loss Widens on Costs to Close Studios

Take-Two Interactive Software Inc., maker of the “Grand Theft Auto” video games, reported a wider loss because of costs to close development studios. The loss exceeded analysts’ estimates, and the company’s shares plunged.

The second-quarter net loss ballooned to $50.4 million, or 71 cents a share, from $8.19 million, or 12 cents, a year earlier, New York-based Take-Two said. Sales rose 19% to $265.1 million from $222.1 million a year earlier.

Shares of Take-Two fell $2.38, or 14%, to $14.39 in extended trading after being halted. They rose 25 cents to $16.77 in regular trading.