Take Two Stock Falls 15% After Cuts Guidance as it Digests Zynga Merger

Take Two Interactive Software stock took a tumble after it announced disappointing second-quarter 2023 results Monday after the closing bell. $TTWO traded at $90.55▼ 17.85 or 16.47% after hours at a new 52 week low. TTWO incurred a loss of $257 million or $1.54 per share in the September quarter, compared to a profit of $10.2 million or $0.09 per share in the prior-year quarter. Clearly the lofty premium the gaming company paid for Zynga is still impacting. The two companies merged … Continue reading “Take Two Stock Falls 15% After Cuts Guidance as it Digests Zynga Merger”

Activision Blizzard Earnings and Revenue Higher with Diablo, Call of Duty and Candy Crush

Video game publisher Activision Blizzard reported better than expected third quarter earnings after the close Monday and updated on a pending acquisition of the company by Microsoft Corporation ($MSFT). Activision Blizzard ended the third quarter with 368 million monthly active users with its segment seeing revenue up double-digits thanks to the launch of “Diablo II: Resurrected” and “Diablo Immortal.” Released in October “Call of Duty: Modern Warfare II” was the fastest-selling title in the history of the franchise. $ATVI saw … Continue reading “Activision Blizzard Earnings and Revenue Higher with Diablo, Call of Duty and Candy Crush”

Gamestop Report Earnings With Chewy Founder Cohen Betting on E Commerce Evolution

Video game retailer GameStop reported mixed third quarter earnings after the close Tuesday  $GME stock has been a hot stock in 2020 with investors like Scion’s Michael Burry and Chewy’s Ryan Cohen and is one of the most heavily shorted stocks on the market with approximately 90% of the shares in lending programs. $GME fell 20% on the report.

Activision Blizzard Revises Earnings Higher on Soaring Gaming Engagement and Revenue Due to Lockdown

Video game publisher Activision Blizzard reported better than expected second quarter earnings and guided its full year 2020 guidance. $ATVI saw growth from World of Warcraft Classic and core games include Overwatch, Call of Duty, and Candy Crush mobile games.

Electronic Arts Earnings Soar with Stay at Home Gamers During Covid Lockdown

Video game publisher Electronic Arts reported better than expected June quarter earnings after the market Thursday. The Covid lockdown saw gamers exceed all forecasts of interactions and purchasers. $EA guided higher for next quarter.

Electronic Arts Earnings Beat But Lowers Gaming Revenue Guidance

Video game maker Electronic Arts reported better than expected December quarter earnings after the market Thursday. However $EA traded lower after warning on next quarters revenue. FIFA Ultimate Team matches were up nearly 40% y/y as it competed with Fortnite.

Call of Duty and World of Warcraft Classic Boost Activision Blizzard Earnings

Video game publisher Activision Blizzard  reported better than expected third quarter earnings and guided higher. $ATVI saw growth from its World of Warcraft Classic launch. Core games include Overwatch, Call of Duty, and Candy Crush mobile games.

Epic Games Fortnite Sued For Being Addictive As Cocaine

Fortnight is a phenomenom, a game seemingly out of nowhere to having over 250 million users in just over two years. With that comes love, hate and of course legal opportunism in a time of no responsibility. A Canadian law firm is suing Epic Games for creating Fortnite that is “as addictive, and potentially harmful, as cocaine”

Gamestop Plunges 40% After OP Sales Miss and Cancels Dividend

Video game retailer GameStop reported first quarter earnings with a better EPS but missed on sales down 13% year-over-year to $1.5 billion seeing $GME plunge 40%. While escapism is in vogue, Fortnite and online has changed the landscape.