Video game publisher Take-Two Interactive Software  posted fiscal fourth quarter earnings that surpassed analysts’ expectations, thanks to pandemic-driven demand.Revenue rose +10% year-over-year to $839.4 million in the quarter, also beating analysts’ consensus of $661.4 million.

Net bookings came in at approximately $3.6 billion and adjusted unrestricted operating cash flow was $920 million for the quarter.

For fiscal 2022, Take-Two is expecting revenue of $3.14 billion to $3.24 billion and profit of $228 million to $257 million.

Video game company Electronic Arts said it is acquiring Glu Mobile for $12.50 a share in cash, or $2.4 billion. The deal is expected to expand the company’s mobile-games business. If the deal is completed, the combined companies will have a portfolio including more than 15 live services with a combined $1.32 billion in bookings over the past 12 months, EA said. The combined organization will...

Video game publisher Take-Two Interactive Software announced that it won’t make an offer higher than peer Electronic Arts’  $1.2 billion bid for U.K. racing game publisher Codemasters Group.

Back on December 14, 2020, Take-Two Interactive was advised by the Board of Codemasters to withdraw its offer for acquiring the game developer.With the deadline (Jan 12) recently passing, Take-Two has decided to no longer pursue the acquisition of Codemasters.

“Take-Two remains a highly disciplined organization and, with its strong balance sheet, will continue to pursue selectively organic and inorganic opportunities that are designed to enhance the company's long-term growth and deliver results to its shareholders,” the company said in a statement.

Video game maker Electronic Arts’ fiscal second quarter 2020 earnings declined from the year-ago quarter, and also missed some analysts’ expectations.  Revenue, however, increased year-over-year. The company’s revenues climbed +4.8% from the prior-year quarter to $1.35 billion.While Product revenues (42.1% of total revenues) fell - 8.8%, Service and other revenues (57.9% of total revenues) surged +17.6%. Adjusted earnings came in at 78 cents per share (which excluded tax benefits worth $2.11).

On Friday, Take-Two Interactive’s Rockstar Games unit announced the release date of a PC version of its popular video game.  "Red Dead Redemption 2" title would be available on PCs starting Nov. 5.Players can also access the game on Google's new Stadia cloud gaming platform.  

BMO raised its price target on Electronic Arts stock to $130 a share from $116 a share.The latest price target represents a potential upside of nearly 30% from the video game company’s stock's previous closing price of $100.89 a share.  Analyst Gerrick Johnson cited extreme positive response to Season 2 Battle Charge, 3 million views in its first four days since release and a 95% like-to-dislike ratio as factors bolstering his outlook on Electronic Arts. Electronic Arts’ upcoming games like "Apex Legends"  latest version and "Star Wars Jedi: Fallen Order" seem to be adding to the positive buzz around  the company.

Electronic Arts’ fourth-quarter revenue beat analysts’ estimates. The video game company reported revenue of $1.238 billion for the quarter, compared to analysts’ estimates of $1.201 billion (based on FactSet poll).Diluted earnings per share of the company came in at 69 cents. Looking ahead, the developer/publisher of games such as The Sims 4, Apex Legends and Battlefield V predicts that its fiscal 2020 revenue would be $5.375 billion, which is higher than FactSet's consensus $5.172 billion expectation.

Videogame sales declined broadly in March, leading the first-quarter numbers to dip Y/Y compared with the same quarter a year ago. Read More...

Since the collaboration with Tencent, the shares of Japanese gaming giant Nintendo’s shares surged as high as 30% following regulators’ approval to release Nintendo’s Switch and the game “New Super Mario Bros. U Deluxe” in China. Nintendo’s foray into the world’s largest gaming market has been much aniticipated by the investors who think its collaboration with Tencent is a welcome step.Each game needs to be submitted for approval in the country to check content regulation compliance. But Chinese customers have typically favoured computer and mobile games over consoles.

Gaming software company Take-Two Interactive Software (Nasdaq: TTWO) has been trending lower over the last six months and it hasn’t bounced back as much as other stocks.There are two hurdles the stock faces at this point—the upper rail of a downward sloped channel and the 50-day moving average.

Last Friday, video gaming giant Electronic Arts (EA) released a highly anticipated new game called the ‘Anthem,’ created by the Company’s partner developer BioWare.The game allows players to team with up to three others to explore vast ruins, battle deadly enemies, and claim outlandish artifacts while wearing powered exoskeletons known as “javelins.” Unlike the enthusiastic reviews of its last viral hit ‘Apex Legends’, the PC version of this new game performed poorly with an average critic score of 61 out of 100 on reviews aggregation site Metacritic. Yet video game consultants do not see any immediate cause of concern for investors.

The video game company reported earnings of 86 cents a share for its fiscal third quarter, falling short of analysts expectation of $1.94 a share (based on FactSet data).Revenue of $1.3 billion also fell below estimate of $1.8 billion. The firm’s full-year revenue guidance of $4.9 billion was less than the expected $5.2 billion.  Electronic Arts CEO Andrew Wilson indicated that the third quarter was challenging for the company and that they did not perform to their expectations, and also warned that the current period might not be a smooth ride either.