Take-Two Interactive Software, Inc.NASDAQ
Tue, Oct. 18, 11:24 AM
- Rockstar Games (TTWO -0.3%) today confirmed some heady fan speculation generated by its tweets, by announcing plans to make Red Dead Redemption 2, a sequel to its hit Western shoot-'em-up. Shares had moved up 5.1% yesterday after cryptic hints.
- The game maker promises a "vast and atmospheric world," which looks to build on the open-world format of the previous game, and teases a trailer for it to come Thursday at 11 a.m. ET. It promises a Fall 2017 release on PlayStation 4 and Xbox One.
- Mizuho reiterated its Buy rating on parent Take-Two Interactive, along with a $48 price target (implying 7.4% upside), on expectations that the game will repeat its predecessor's smash success.
- "Taking a page out of the GTA V playbook, we expect RDR 2 will have a massive single-player action campaign, as well as an online multi-player experience similar to Grand Theft Auto Online," says analyst Neil Doshi.
Mon, Oct. 17, 3:19 PM
- Take-Two Interactive (TTWO +5.7%) is riding higher today after teasing a likely sequel to its Red Dead Redemption hit game, and getting a bullish launch from Oppenheimer.
- A cryptic tweet with cowboy imagery from Rockstar Games this morning is widely interpreted as signaling a follow-up to the 2010 Western shooter, itself a follow-up to 2004's Red Dead Revolver.
- Red Dead Redemption shipped more than 14M units since its release several years ago, and Rockstar had taken to referring to it as a "permanent franchise," suggesting a sequel in the works or even the prospect of transitioning the game's business model a la Grand Theft Auto Online.
- Meanwhile, Oppenheimer has initiated coverage of the stock at Outperform, with a $54 price target, implying nearly 20% upside from today's elevated pricing.
Mon, Oct. 17, 3:00 PM
Thu, Sep. 15, 6:36 PM
- Videogame sales ticked up Y/Y, rising 1% as key new game releases reversed a trend of declines, according to NPD Group.
- Spending had been falling against tough comparisons with last summer's releases. But a strong release schedule, including a new year's Madden NFL and a high-profile release in No Man's Sky, rescued August from summer doldrums.
- Overall sales rose to $573.4M as a pickup in software slightly more than offset continuing declines in hardware and accessories.
- Hardware sales continued a downward trend, coming on the cusp of a console refresh cycle at Sony (NYSE:SNE) and Microsoft (NASDAQ:MSFT). Those revenues fell 6% Y/Y to $178.1M.
- "The unit growth in sales for the Xbox One and the 3DS was not enough to offset the decline in spending on the PS4, Wii U and older consoles," says NPD's Sam Naji. "The decline in unit spending was also compounded by the 7 percent decline in the ARP for consoles and a 22 percent decline in the ARP for portables.”
- Videogame software spending, including digital estimates, grew 8% to $273.7M. And PC game sofware rose 18% to $14.2M. Meanwhile, accessory spending dropped 5% to $107.4M.
- In individual games (ranked by dollar sales), new releases took the spotlight: Madden NFL 17 (NASDAQ:EA) topped the chart, followed by No Man's Sky (SNE) and Deux Ex: Mankind Divided (Square Enix). Grand Theft Auto V, a cash cow at Take-Two (NASDAQ:TTWO), was No. 4, followed by Overwatch (NASDAQ:ATVI).
Mon, Aug. 22, 7:05 PM
- Videogame spending fell 14% overall in July, again facing tough comparisons with last summer and again led down by hardware, according to NPD Group.
- Overall sales fell to $480.1M, while hardware dropped 30% Y/Y to $141.3M. With a new Xbox One S already released, and two new PS4s reportedly on the way, unit sales fell 10%, and average price was down 22%. Portables were up 23%; consoles down 37%.
- Videogame software (now including digital estimates) dropped 5%, to $210.3M, and PC game software fell 12% to $11.4M. Accessories spending also dropped 5%, to $117.1M.
- In individual games (ranked by dollar sales), cash cow Grand Theft Auto V (TTWO +0.8%) overtook Overwatch (ATVI +0.4%) for the top spot, followed by Lego Star Wars: The Force Awakens (TWX -0.4%). Including digital full-game sales has lifted GTA V, which had been falling down the physical sales chart. Other titles of interest: Call of Duty: Black Ops III (NASDAQ:ATVI) at No. 5, and Minecraft (MSFT +0.1%) at No. 6.
- In an uncommon outcome, Xbox One outsold the PlayStation 4 (SNE +0.9%) in July thanks to a reduced average price, with Wii U (OTCPK:NTDOY +1.6%) again in third place among hardware.
Thu, Aug. 4, 4:51 PM
- Take-Two Interactive Software (NASDAQ:TTWO) has seen a few healthy bids after hours, currently up 5.4% in choppy trades, following fiscal Q1 results where revenues grew 13% and its net loss narrowed.
- As with other game companies, it's modified calculating its non-GAAP financial measures to comply with new SEC interpretations -- particularly in adjusting for net effect from deferral of net revenue and cost of goods sold.
- Revenue grew on a GAAP basis to $311.6M, largely due to cash cows Grand Theft Auto V/Grand Theft Auto Online, NBA 2K16 and Battleborn.
- Net loss narrowed on a GAAP basis to $38.6M (from a loss of $67M a year ago) and on a non-GAAP basis to $17.6M (from a loss of $33.2M a year ago).
- Bookings fell to $253.4M from the year-ago $353.8M (a quarter that had seen the launch of GTAV for PC).
- For fiscal Q2, it's guiding to net revenue of $375M-$425M (above an expected $328.3M), GAAP EPS of $0.32-$0.44 and non-GAAP EPS of $0.35-$0.45.
- Press release
Thu, Aug. 4, 4:48 PM
Wed, Aug. 3, 5:35 PM
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Fri, Jul. 22, 10:18 PM
- Videogame spending fell 26% Y/Y in June, facing tough comparisons against strong launches in 2015 and with hardware making up most of the decline, according to NPD Group data.
- Overall spending was $652.2M. Videogame hardware spending came to $181.5M -- down 42% as unit sales fell 32% and prices on average dropped 15%, the firm said.
- NPD Group has begun adjusting its report to include point-of-sale info for digital game sales made via PlayStation Network, Xbox Store and Steam, to reflect a fast-growing portion of industry revenues. That means for now that Nintendo sales and mobile sales, as well as other PC stores like EA's Origin, are missing and not projected.
- In software, both videogame and PC game software fell 20%, though last June featured strong launches like Batman: Arkham Knight. Overall sales (now including digital formats) came to $322M for consoles/portable and $27.8M for PC games including Steam.
- Accessories fell 6%, and interactive gaming toys (the lead accessory type) fell by 21%, mitigated somewhat by a 6% growth in headsets/headphones.
- In individual games (now ranked by dollar sales), despite the tough comps May launches had a good second month. Overwatch (NASDAQ:ATVI) continued to top the chart, followed by Grand Theft Auto V (NASDAQ:TTWO) and Lego Star Wars: The Force Awakens (NYSE:TWX). The inclusion of digital full-game sales gave GTA V a new boost.
- PlayStation 4 (NYSE:SNE) again was the top-selling console, over Xbox One (NASDAQ:MSFT) and Wii U (OTCPK:NTDOY).
Wed, May 18, 4:31 PM
- Take-Two (NASDAQ:TTWO) is up 1.2% in choppy postmarket trading following a fiscal Q4 earnings report where it beat expectations but guided well below consensus for the out quarter and full year.
- Revenues by region: United States, $196M (up 19%); International, $181.2M (up 33.8%).
- For Q1, it's guiding to non-GAAP revenue of $225M-$260M (short of consensus for $304M) and a non-GAAP net loss per share of $0.40 to $0.30, vs. an expected profit of $0.23/share. For the full year, it's forecasting non-GAAP revenues of $1.5B-$1.6B (vs. expected $1.773B) and non-GAAP EPS of $1.00-$1.25, short of consensus for $2.00.
- Conference call to come at 4:30 p.m. ET.
- Press Release
Wed, May 18, 4:12 PM
Tue, May 17, 5:35 PM
Fri, Mar. 11, 11:56 AM
- New games weren't in short supply, but a drag from hardware sent videogame sales down 12% Y/Y in February.
- U.S. new physical gaming product sales at retail were $842.5M, NPD Group reports, down from a year-ago $960.3M -- though last year included Nintendo's (OTCPK:NTDOY +1.3%) launch of the 3DS XL.
- Hardware sales fell 23% to $292.2M, paced by a 58% drop-off in portable hardware (again, against a tough comp with last year's Nintendo portable). Older-gen consoles (Xbox 360, PlayStation 3, Wii) continued to fall off, slipping 77%. Software sales declined 10% to $303.9M.
- In U.S. new physical software, new release Far Cry: Primal from Ubisoft (OTCPK:UBSFY +0.1%) topped the charts while holiday release Call of Duty: Black Ops 3 (ATVI +2.3%) held strong at No. 2 just ahead of Grand Theft Auto V (TTWO +1.5%). And speaking of high-profile holiday releases, Star Wars: Battlefront (EA +1.3%) fell out of the top 10.
- Games for PlayStation 4 (SNE +3%) are still dominating software sales overall. And Sony says the PS4 was again the top-selling console in February.
Thu, Feb. 4, 9:19 AM
- Gainers: VHC +89%. GLUU +21%. OCLS +18%. WFT +12%. ATNY +11%. SEDG +11%. PETX +10%. SVA +9%. ING +9%. TTWO +8%. SBH +8%. GRUB +7%. VALE +7%. HMY +7%. CDNS +6%. CDE +6%. SBGL +6%. GSH +5%. AUY +5%. VIAB +5%. RIO 5%.
- Losers: PPP -16%. KSS -15%. GPRO -15%. IMPV -13%. CS -13%. PACB -13%. RL -9%. AZN -7%.
Wed, Feb. 3, 5:38 PM
Wed, Feb. 3, 4:11 PM
- Take-Two Interactive Software (NASDAQ:TTWO): FQ3 EPS of $0.89 beats by $0.39.
- Revenue of $486.8M (-49.0% Y/Y) beats by $34.01M.
- Shares +7.3% AH.