Take-Two Interactive reported higher sales in its fiscal first quarter, with revenue rising 2% to $1.53 billion. However, the company's losses also widened significantly, posting a loss of $34.1 million or 18 cents per share, compared to a loss of $11.9 million or 7 cents per share in the same period last year.

Analysts had expected a loss of 20 cents per share, according to Fact Set. The wider loss was partly attributed to a $43.4 million impairment charge resulting from Take-Two's decision to discontinue development of an unannounced title from a third-party developer.

Despite the increased losses, revenue exceeded analyst expectations, with Fact Set forecasting $1.36 billion. Total net bookings fell 3% to $1.39 billion, indicating mixed performance across the company's portfolio during the quarter.