Aug. 10, 2015, 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%.
Aug. 9, 2015, 5:35 PM| Aug. 9, 2015, 5:35 PM | 13 Comments
Jul. 17, 2015, 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.
Jul. 16, 2015, 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%).
Jun. 26, 2015, 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)
Jun. 24, 2015, 9:54 AM
- Take-Two (TTWO +3.3%) and Electronic Arts (EA +2.4%) both rose this morning as Jefferies issued reports raising each firm to Buy, from Hold, with an eye toward the advancement of the new game console cycle.
- With around 48M-49M new-generation consoles in the wild at year's end, annual growth would be about 69%, and there might be 100M installed units by the end of 2017 -- leading to some sales capitalization from both firms off of fixed development costs.
- "EA looks well positioned against two multi-year tailwinds: faster than expected console sales and the transition to higher-margin digital revenue," Brian Pitz wrote. He raised EA's price target to $80, from $58. Shares are currently trading at $68.20.
- Brian Fitzgerald is looking for continued margin expansion at Take-Two and raised its target to $35 from $29. Shares are currently at $28.92.
May 19, 2015, 12:20 PM
- Take-Two Interactive Software (NASDAQ:TTWO) is soaring, up 15.5%, after an earnings report where it provided strong guidance for the coming quarter and counted the successes of titles like Grand Theft Auto V and NBA 2K15.
- Sterne Agee upgraded shares from Neutral to Buy today, setting a raised price target of $32. Shares are trading currently at $27.94.
- Other analysts noted what looked like soft full-year guidance seemed in line with expectations considering the lack of a full Rockstar Games release. Wedbush's Michael Pachter said facing an "underwhelming" release slate, the company's guidance (EPS of $0.75-$1.00 and non-GAAP revenues of $1.3B-$1.4B) fit his expectations, and Wedbush raised its target to $26 from $24.
- Credit Suisse's Stephen Ju pointed to increased digital sales (up 66%) as a positive mix shift, but that the shares have a balanced risk-reward profile. The firm raised its target to $32 from $28.
- Previously: Take-Two up 7.3% after earnings; details pipeline, Asia plans (May. 18 2015)
May 19, 2015, 9:15 AM
May 18, 2015, 5:44 PM
- Take-Two Interactive (NASDAQ:TTWO) is up 7.3% after hours following its fiscal Q4 and year-end results, where some revenue deferrals made for a heavy GAAP loss but boosted strong guidance for Q1. The company's forecast for the coming year was also to the downside of expectations.
- Elaborating on forecasting on its earnings call, CEO Strauss Zelnick noted that despite a slow pipeline from Rockstar Games, they're hard at work on a number of upcoming titles: "Rockstar today is different from the Rockstar of a few years ago," he said noting that the release of Grand Theft Auto Online has changed its world as "a living, breathing entity" that generates revenue and profits on an ongoing basis.
- The company increased its buyback authorization to 10M shares; on the call, management noted that buybacks aren't anticipated in its expectations for a fiscal 2016 EPS of $0.75-$1.00.
- Regarding Asia Pacific, Zelnick said it's a "very significant area of focus for us," pointing to NBA 2K's monthly revenues/profits. "Now we feel a little more confident about financial risk because we have a good deal of experience in the region ... I think in the Chinese market, it's likely that we -- and our competitors -- will have local partners. The Chinese government wants us to work with strong local partners, and Tencent and others are proving to be exceedingly strong partners for us."
May 18, 2015, 5:37 PM
May 18, 2015, 4:28 PM
- Take-Two Interactive (NASDAQ:TTWO) spent the last 10 minutes sinking into the close to finish -2%, just before an earnings release for its fiscal Q4 showing a miss on revenues despite 83% growth.
- GAAP results showed a net loss of $2.99/share, reflecting some net revenue and cost of goods deferrals. On a non-GAAP basis, EPS was $0.49 vs. an expected $0.28 and against last year's $0.21.
- Revenue from digitally delivered content was up 66% Y/Y, to $202.5M. Biggest contributors to revenue for Q4: Grand Theft Auto V (freshly released for PC), Grand Theft Auto Online, Evolve, NBA 2K15 and Borderlands: The Handsome Collection.
- It's increased its buyback authorization up to an aggregate 10M shares.
- The firm's guiding high for its fiscal Q1, for non-GAAP revenues of $325M-$350M vs. $207M expected, and for EPS of $0.25-$0.35 vs. an expected -$0.01. For fiscal 2016, the company expects non-GAAP net revenue of $1.3B-$1.4B, lower than expected $1.82B, and EPS of $0.75-$1.00 vs. an expected $1.87.
- Conference call at 4:30 p.m. ET.
May 18, 2015, 4:14 PM
- Take-Two Interactive Software (NASDAQ:TTWO): FQ4 EPS of $0.49 beats by $0.22.
- Revenue of $427.73M (+83.4% Y/Y) misses by $31.21M.
May 17, 2015, 5:35 PM
May 15, 2015, 4:52 PM
- Video game spending was up slightly Y/Y in April, gaining 3% to $595.7M, paced by a 13% increase in physical software sales, according to industry trackers NPD Group.
- That's apart from mixed results in hardware sales -- which were up 12% in unit terms, but declined 4% on a dollar basis to $183.9M, after a round of console price cuts.
- Physical software rose to $256.7M. This month, violent games took the spotlight, with "Fatality"-friendly Mortal Kombat X (NYSE:TWX) the new game topping the chart. It was followed by Grand Theft Auto V (NASDAQ:TTWO) and Battlefield: Hardline (NASDAQ:EA). MLB 15: The Show (NYSE:SNE), another new game, came in at the fourth spot, just ahead of Minecraft.
- GTAV was one of three games that Take Two had in the top 10, along with NBA 2K15 and Borderlands: The Handsome Collection.
- At long last, the Xbox One (NASDAQ:MSFT) took over the top console spot from PlayStation 4 (SNE) despite no big game news to push it; Xbox One sales were up 63% Y/Y.
- Nintendo (OTCPK:NTDOY) says that the Wii U is up 15% for the first four months of 2015 vs. the year-ago period, and 3DS sales up 65% Y/Y for that same period.
May 15, 2015, 4:07 PM
- Senate Bill 9 has been passed by both legislative chambers in Nevada, clearing the way for skills-based casino floor games.
- The development also opens a door for videogame sellers to create or license casino versions of their popular titles.
- The casino industry has its eyes on attracting millennials after seeing the group show tepid demand for classic table games and slot machines.
- New Jersey and Mississippi have also set the stage for casino floor innovation with similar legislation.
- Previously: Paging Steve Nash to the Borgata (Feb. 13)
- Related stocks: CZR, WYNN, SGMS, ISLE, PNK, PENN, MCRI, CNTY, IGT, MGM, BYD, OTCQB:TPCA, ATVI, TTWO, EA.
- Related ETFs: BJK
Apr. 17, 2015, 5:39 PM
- A new version of popular series Battlefield wasn't enough to boost video game sales in March, as software sales slipped 3% Y/Y to $395.4M. But software was positively solid compared to game hardware sales that slipped 21% Y/Y to $311.1M, according to NPD Group.
- In new retail games, Battlefield: Hardline (NASDAQ:EA), a cops-and-robbers version of the war-game series, led sales charts followed by another new entry, action role-player Bloodborne (NYSE:SNE) which was strong despite being a PS4 exclusive.
- The top five was rounded out by Grand Theft Auto V (NASDAQ:TTWO), Mario Party 10 (OTCPK:NTDOY), and Call of Duty: Advanced Warfare (NASDAQ:ATVI).
- Physical software sales showed sharp declines for previous-generation consoles, which points to the health of the new generation (PS4, Xbox One, Wii U), whose software sales increased 58% Y/Y.
- In hardware, Sony says PS4 again topped the charts, but everyone's doing well in the new generation: “This is the 17th month of sales for the Xbox One and PS4, whose combined cumulative hardware sales are over 50% higher than the combined 17-month cumulative sales totals for the Xbox 360 and PS3,” said NPD's Liam Callahan.
- In a market down more than 1% today, GameStop (NYSE:GME) did worse, down 3.1%.
- And in other EA news, at the ongoing "Star Wars Celebration" event going on in Anaheim, Calif., today's news included the reveal trailer for Star Wars: Battlefront wowing fans. Launching Nov. 17, the game showcases high-definition visuals but takes a somewhat risky move of dropping single-player missions entirely for cooperative and multiplayer.
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. Its products are designed for console systems, handheld... More
Industry: Multimedia & Graphics Software
Country: United States