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Take Two Strengthens Competitive Position, Launches NBA 2K19
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Take Two Interactive Software’s (TTWO - Free Report) 2K division recently announced the availability of NBA 2K19. The cover of the standard edition of the latest title of this popular franchise features Giannis Antetokounmpo and is now available for $59.99.
2K also launched an NBA 2K19 20th Anniversary Edition with LeBron James on the cover. The package includes the NBA 2K19 game, 100,000 Virtual Currency, MyTEAM cards, LeBron-themed digital items for MyPLAYERs and more for $99.99.
Take Two also announced the NBA 2K19 MyTEAM Unlimited $250,000 Tournament, which will run from Oct 13, 2018 to Feb 13, 2019. The tournament will be played using the new MyTEAM Unlimited Mode, which features 5-on-5 NBA-style gameplay and allows users to choose any 13 cards from their collection.
Portfolio Strength to Drive Top-Line Growth
Notably, NBA 2K18, the previous title of the franchise was the highest-selling sports title ever in Take Two’s history. The game sold more than 10 million units as of the last reported quarter. Moreover, NBA 2K Online remains the leading PC online sports game in China with more than 37 million registered users.
Take Two’s portfolio relies on popular franchises like NBA 2K and Grand Theft Auto. Notably, Grand Theft Auto Online had a strong first quarter of fiscal 2019, when it exceeded Take Two’s expectations.
Management stated that since Apr 1, developer Rockstar Games has released a number of free content updates for the game including the most recent GTA Online: After Hours.
Take-Two Interactive Software, Inc. Price and Consensus
Take Two’s expanding portfolio is expected to drive top-line growth. During the last reported quarter, Rockstar Games released Grand Theft Auto V: Premium Online Edition. Most recently, 2K partnered with HB Studios to publish The Golf Club 2019 Featuring PGA TOUR.
Further, Rockstar Games is set to release Red Dead Redemption 2 on Oct 26, which is expected to face significant competition from Activision’s Call of Duty: Black Ops 4 and Electronic Arts’ (EA - Free Report) Battlefield V.
Nevertheless, Take Two expects to benefit from high-single-digit growth in recurrent consumer spending in the second quarter. Digitally-delivered net bookings are expected to be approximately flat. NBA 2K19, Grand Theft Auto Online, Grand Theft Auto V, and Social Point's mobile offerings are expected to be major contributors.
For fiscal 2019, net bookings are expected between $2.70 billion and $2.80 billion, better than the previous guidance of $2.67-$2.77 billion. The year-over-year increase of 38% reflects boost from the launch of Red Dead Redemption 2 and expected growth from NBA 2K19.
Long term earnings growth rate for Glu is currently pegged at 15%.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Image: Bigstock
Take Two Strengthens Competitive Position, Launches NBA 2K19
Take Two Interactive Software’s (TTWO - Free Report) 2K division recently announced the availability of NBA 2K19. The cover of the standard edition of the latest title of this popular franchise features Giannis Antetokounmpo and is now available for $59.99.
2K also launched an NBA 2K19 20th Anniversary Edition with LeBron James on the cover. The package includes the NBA 2K19 game, 100,000 Virtual Currency, MyTEAM cards, LeBron-themed digital items for MyPLAYERs and more for $99.99.
Take Two also announced the NBA 2K19 MyTEAM Unlimited $250,000 Tournament, which will run from Oct 13, 2018 to Feb 13, 2019. The tournament will be played using the new MyTEAM Unlimited Mode, which features 5-on-5 NBA-style gameplay and allows users to choose any 13 cards from their collection.
Portfolio Strength to Drive Top-Line Growth
Notably, NBA 2K18, the previous title of the franchise was the highest-selling sports title ever in Take Two’s history. The game sold more than 10 million units as of the last reported quarter. Moreover, NBA 2K Online remains the leading PC online sports game in China with more than 37 million registered users.
Take Two’s portfolio relies on popular franchises like NBA 2K and Grand Theft Auto. Notably, Grand Theft Auto Online had a strong first quarter of fiscal 2019, when it exceeded Take Two’s expectations.
Management stated that since Apr 1, developer Rockstar Games has released a number of free content updates for the game including the most recent GTA Online: After Hours.
Take-Two Interactive Software, Inc. Price and Consensus
Take-Two Interactive Software, Inc. Price and Consensus | Take-Two Interactive Software, Inc. Quote
Take Two’s expanding portfolio is expected to drive top-line growth. During the last reported quarter, Rockstar Games released Grand Theft Auto V: Premium Online Edition. Most recently, 2K partnered with HB Studios to publish The Golf Club 2019 Featuring PGA TOUR.
Further, Rockstar Games is set to release Red Dead Redemption 2 on Oct 26, which is expected to face significant competition from Activision’s Call of Duty: Black Ops 4 and Electronic Arts’ (EA - Free Report) Battlefield V.
Nevertheless, Take Two expects to benefit from high-single-digit growth in recurrent consumer spending in the second quarter. Digitally-delivered net bookings are expected to be approximately flat. NBA 2K19, Grand Theft Auto Online, Grand Theft Auto V, and Social Point's mobile offerings are expected to be major contributors.
For fiscal 2019, net bookings are expected between $2.70 billion and $2.80 billion, better than the previous guidance of $2.67-$2.77 billion. The year-over-year increase of 38% reflects boost from the launch of Red Dead Redemption 2 and expected growth from NBA 2K19.
Zacks Rank & Key Pick
Currently, Take Two has a Zacks Rank #3 (Hold).
Glu Mobile is a better-ranked stock with a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.
Long term earnings growth rate for Glu is currently pegged at 15%.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>