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Take-Two Interactive Software, Inc. (TTWO)

  • Mon, Nov. 23, 11:55 AM
    | Mon, Nov. 23, 11:55 AM | 11 Comments
  • Tue, Nov. 17, 3:18 PM
    • It's launch day for Star Wars: Battlefront, one of the year's biggest videogame rollouts, but Electronic Arts (NASDAQ:EA) may want to skip the earliest reviews.
    • The game is getting a 73 rating -- "mixed or average reviews" -- on Metacritic for its Xbox One version (15 critics). The PlayStation 4 version is faring a bit better with a 78 (generally favorable), from 13 critics.
    • EA shares are flat today, while rivals Activision Blizzard (ATVI +3.1%) and Take-Two (TTWO +2.4%) are much stronger.
    • Mizuho's Neil Doshi is unperturbed; many of the worst reviews were from people expecting a single-player campaign, he says, and major sites have yet to post their takes. He still agrees with EA that the company could sell 13M units by the end of March and reiterated a Buy rating and $84 target (near 24% upside implied).
    • Along with reviewers, Piper Jaffray's Michael Olson noted a dearth of content in the game as sold, but industry trends suggest that can be remedied by a year of strong downloadable content that EA could provide. Olson has an Overweight rating and an $87 price target.
    • Previously: EA +1% as Oppenheimer launches at Outperform on strong slate, margins (Nov. 12 2015)
    • Previously: Electronic Arts sinks 5% after beat-and-raise, bullish targets (Oct. 30 2015)
    • Previously: Electronic Arts +1.6% as Piper Jaffray reiterates Buy (Oct. 27 2015)
    | Tue, Nov. 17, 3:18 PM | 15 Comments
  • Thu, Nov. 5, 4:58 PM
    • Videogame maker Take-Two Interactive (TTWO -2.9%) is up 2.9% postmarket as it posted fiscal Q2 results with strong beats on top and bottom lines and raised guidance.
    • Revenue leapt 169% as the company's sports titles brought heavy contributions to the table. NBA 2K16, Grand Theft Auto V and Grand Theft Auto Online, and even NBA 2K15 were the biggest contributors to revenue, while Borderlands and WWE 2K added strength in digitally delivered content.
    • It's successfully launched WWE 2K16 and Evolve Ultimate Edition, and next up are the Borderlands Triple Pack and Civilization Revolution 2 Plus.
    • The company raised its outlook for fiscal 2016, to non-GAAP net revenue of $1.325B-$1.425B (in line) and for EPS of $1.00-$1.15 (on the high side of an expected $1.02). For Q3 it sees revenue of $400M-$450M (vs. $443.3M expected) and EPS of $0.40-$0.50 (vs. consensus of $0.45).
    • Press Release
    | Thu, Nov. 5, 4:58 PM | Comment!
  • Thu, Nov. 5, 4:25 PM
    • Take-Two Interactive Software (NASDAQ:TTWO): FQ2 EPS of $0.30 beats by $0.15.
    • Revenue of $364.93M (+169.4% Y/Y) beats by $46.6M.
    • Shares +0.61%.
    • Press Release
    | Thu, Nov. 5, 4:25 PM | Comment!
  • Wed, Nov. 4, 5:35 PM
  • Tue, Oct. 20, 12:08 AM
    • Videogame sales tumbled in September, NPD Group says, falling 9% to $1.01B, with holiday promotions seemingly just around the corner.
    • Once again, both hardware and software declined, though hardware took the beating -- down 27% to $313.5M -- as many gamers may be awaiting a console price break or bundle in time for holiday shopping. Software sales fell just 3% by comparison, to $465.6M. Accessory sales rose again.
    • In new games at retail, Metal Gear Solid V: The Phantom Pain (OTCPK:KNMCY) couldn't unseat either NBA 2K16 (NASDAQ:TTWO) or Madden NFL 16 (NASDAQ:EA), which finished September with a one-two punch, and settled at third place, just ahead of FIFA 16 (EA). Rounding out EA's sports-title success, NHL 16 debuted at No. 9.
    • The only single-platform exclusive to make that top 10 was Super Mario Maker (OTCPK:NTDOY), which debuted at No. 6.
    • Once again, Sony (NYSE:SNE) confirmed the PlayStation 4 was the top console, outselling the Xbox One (NASDAQ:MSFT) and Wii U. Sony's box has outsold Xbox One every month this year except April.
    • But the hardware faced a tough comp against last year's sales, buttressed by the release of Destiny (NASDAQ:ATVI), says NPD's Liam Callahan. And he notes that the consoles are trending up M/M: “All eighth generation consoles [which includes PS4, Xbox One, and Wii U] experienced double-digit growth when comparing sales on a per-week basis.”
    | Tue, Oct. 20, 12:08 AM | 5 Comments
  • Wed, Oct. 14, 9:15 PM
    • Demand is still strong among teens for the newest generation of videogame consoles, Piper Jaffray says -- and that's good news for leading game makers like Activision Blizzard (ATVI +0.4%) and Electronic Arts (EA +3.1%).
    • Uptake of the Xbox One (MSFT -0.5%) and PlayStation 4 (SNE -1.5%) consoles "is at the highest level we have seen, reinforcing our expectation for a much more rapid pace than prior-gen" consoles, says analyst Michael Olson, a "clear positive" for Activision, EA, Take-Two Interactive (TTWO +0.2%) and retailer GameStop (GME -1.1%).
    • The firm's semiannual survey found 73% of videogame-playing teens own an Xbox One or PlayStation 4, or intend to get one -- up from 70% last spring and 67% last fall. Some 39% currently own one of the newer consoles, up from 37% in the spring and 26% last fall.
    • "We believe the combination of next-gen console uptake and a robust lineup of AAA titles will lead to sustainable software growth through second-half 2015 and into 2016," Olson writes.
    • Mobile players are stable, but the number who'll pay is rising as well. Some 24% of teens who play mobile games by makers like Glu Mobile (GLUU +1.2%) and King Digital (KING -0.4%) say they spend in-game money, the survey said, up from 21% in the spring.
    | Wed, Oct. 14, 9:15 PM | 16 Comments
  • Fri, Sep. 18, 7:52 AM
    • The Nevada Gaming Commission approved a set of rules to allow a new category of games which mix skill and chance.
    • The aim of industry players is to introduce hybrid slot machines which appeal to millennials by incorporating skills such as knowledge of trivia, strategic thinking, or dexterity. Traditional slot machines haven't been popular with millennials in general.
    • Related ETFs: BJK
    | Fri, Sep. 18, 7:52 AM | 8 Comments
  • Fri, Sep. 11, 5:27 PM
    • Videogame sales slipped in August, despite the "annual Madden," with new physical games and hardware down 2% to $548M, according to NPD Group.
    • That's due to a bigger decline in software sales, though hardware slipped as well. Game sales fell 10% to $207.9M on tough comps against last year's Diablo III console launch and Sony's The Last of Us.
    • Spending on hardware dropped a comparatively lighter 2% to $190.5M. Accessory sales rose, however, up 12% to $150M. Current-gen consoles rose to 68% of software sales from the prior month's 61%, according to Piper Jaffray.
    • Madden NFL 16 (EA +0.3%) was the unsurprising leader in software for August after its late-month release, ahead of a pair of Microsoft (MSFT +0.4%) titles, Minecraft and Gears of War: Ultimate Edition.
    • “New physical software sales for [Xbox One and PS4] consoles, up 34%, did not offset the 51% decline in [last] generation console sales as well as the 24% drop in portable software sales,” said NPD analyst Liam Callahan.
    • Piper's Michael Olson reiterated Overweight ratings on Activision Blizzard (ATVI +0.3%), EA and Take-Two (TTWO +0.1%), as well as on GameStop (GME +1%). "We expect that 2015 and 2016 will be the equivalent to 2007 and 2008 during the prior console cycle," he writes; "both were years that experienced significant industry software growth, following several years of decline or limited growth in the space."
    • Meanwhile, Sony (SNE +0.9%) confirmed its PlayStation 4 outsold competing hardware from Microsoft and Nintendo (OTCPK:NTDOY -1.5%) yet again in August.
    | Fri, Sep. 11, 5:27 PM | 2 Comments
  • Fri, Aug. 28, 11:58 AM
    • Take-Two's (TTWO +1.3%) first-person shooter game Borderlands is coming to the big screen, via a collaboration with Lions Gate Entertainment (LGF -0.7%).
    • The companies will team with producers Avi and Ari Arad (Iron Man, Spider-Man, X-Men) to make a film adaptation of the game, which spawned a number of sequels in a franchise that has shipped more than 26M game copies.
    • ""Part of our strategy in entering the game space under Peter Levin has been to source new brands with built-in audiences that will translate into great films and television shows," Lions Gate's motion-picture co-chairs Rob Friedman and Patrick Wachsberger said.
    | Fri, Aug. 28, 11:58 AM | 2 Comments
  • Mon, Aug. 10, 4:47 PM
    • Take-Two Interactive (NASDAQ:TTWO) has dropped 3.2% after hours, adding on to today's 1.7% decline, as its fiscal Q1 missed profit expectations despite growing non-GAAP revenues by more than double.
    • The company swung to a net profit of $0.31/share, from a year-ago loss of $0.14/share, in non-GAAP terms.
    • Biggest contributors to revenue were Grand Theft Auto V and Grand Theft Auto Online, NBA 2K15, Borderlands: The Handsome Collection and WWE 2K15. Digitally delivered content revenue was up 139% to $254M, and 36% of that was recurrent spending, including virtual currency and downloadable add-ons.
    • Next in the pipeline this fall: NBA 2K16, WWE 2K16, and XCOM 2.
    • Cash and short-term investments grew to $1.19B at quarter's end.
    • Press Release
    | Mon, Aug. 10, 4:47 PM | Comment!
  • Mon, Aug. 10, 4:28 PM
    • Take-Two Interactive Software (NASDAQ:TTWO): FQ1 EPS of $0.31 misses by $0.05.
    • Revenue of $366.39M (+141.7% Y/Y) beats by $14.98M.
    • Shares -3.04%.
    • Press Release
    | Mon, Aug. 10, 4:28 PM | Comment!
  • Sun, Aug. 9, 5:35 PM
  • Fri, Jul. 17, 5:41 PM
    • Videogame sales grew in June, with new physical games and hardware up 18% in the U.S. Y/Y, to $869.4M, according to NPD. That's a rebound from May's 13% decline.
    • The industry showed growth in all three major areas: Hardware sales were $313.1M (up 8%); accessories were $210.7M (up 34%); and game software sales were very strong at $345.5M (up 21%, though against a weaker 2014 comp) by calling on the Batman. The settling-in of next-gen consoles continues, as it was the fourth month of Y/Y software increases.
    • Batman: Arkham Knight (TWX -1.4%) led the software charts and became the year's second-best seller out of the gate, behind another Warner Bros. release, Mortal Kombat X.
    • June was Warner's month: Its other titles Lego Jurassic World, The Witcher 3: Wild Hunt and Mortal Kombat X joined Batman in the top 10 at Nos. 3, 4 and 8 respectively. Warner's dollar sales are up 217% vs. the first half of 2014, making it the top corporate publisher this year, says NPD's Liam Callahan.
    • In longer-term holdouts, Minecraft (NASDAQ:MSFT) came in at No. 6, Grand Theft Auto V (TTWO +4%) was No. 7, Take-Two's NBA 2K15 was No. 9 and Call of Duty: Advanced Warfare (NASDAQ:ATVI) No. 10.
    • Next-gen consoles like PS4 and Xbox One led the way in hardware growth, up 15%. The PS4 (SNE +0.5%) led console sales again, the company said, as it has for every month this year except for April.
    | Fri, Jul. 17, 5:41 PM | 6 Comments
  • Thu, Jul. 16, 3:21 PM
    • Digital game sales crested $1B in revenues in June (up 18% Y/Y), SuperData Research reports -- and most of that is headed to big-name projects.
    • Call of Duty: Advanced Warfare (ATVI +0.4%) topped the firm's digital console earnings chart for June, followed by Grand Theft Auto V (TTWO +1.8%).
    • The overall market was robust, said SuperData chief Joost van Dreunen: Mobile revenues that usually slip in summer increased 4% M/M in June (and 20% Y/Y) to $367M, while console and PC gaming is up 30% Y/Y to $314M.
    • Following up Call of Duty and GTA V on the console chart was Bethesda Softworks' MMORPG Elder Scrolls Online: Tamriel Unlimited and Batman: Arkham Knight (TWX +0.7%).
    | Thu, Jul. 16, 3:21 PM | 3 Comments
  • Fri, Jun. 26, 11:07 PM
    • Mizuho Securities launched coverage on videogame makers with a bullish cast -- setting Buy ratings for Activision Blizzard (NASDAQ:ATVI), Electronic Arts (NASDAQ:EA) and Take-Two Interactive (NASDAQ:TTWO).
    • The firm gave a Neutral rating to Ubisoft (OTCPK:UBSFY).
    • Its top pick goes to Activision Blizzard, with ample upside left: "Much of the potential upside coming from Blizzard - continued traction with Hearthstone, along with two new IP properties Heroes of the Storm and Overwatch. And with CoD: Black Ops III, Destiny: The Taken King, Guitar Hero, and Call of Duty Online, we see solid tailwinds from the Activision side."
    • For EA, analyst Neil Doshi points to some well-known catalysts: the now-detailed Star Wars: Battlefront game as well as the company's sports franchises. "For now we remain buyers, despite valuation getting fuller, as we believe new games should lead to sustained growth and digital should pave the way for more margin expansion."
    • Today: EA +0.3%; ATVI -1.4%; TTWO +0.8%; OTCPK:UBSFY -1.4%.
    • Previously: EA, Take-Two up on bullish Jefferies sales notes (Jun. 24 2015)
    • Previously: Electronic Arts shares rise during encouraging E3 (Jun. 18 2015)
    | Fri, Jun. 26, 11:07 PM | 3 Comments
Company Description
Take-Two Interactive Software Inc is a developer, marketer and publisher of interactive entertainment for consumers around the globe. The Company develops and publishes products through its two wholly-owned labels Rockstar Games and 2K.