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Take Two's (TTWO) Private Division Set to Launch OlliOlli World

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Take Two Interactive's (TTWO - Free Report) publishing label Private Division is set to launch OlliOlli World on Feb 8, 2022.

Developed by BAFTA award-winning studio Roll 7, part of Private Division, the skateboarding game will be available on PlayStation 5 and PlayStation 4, the Xbox Series X|S and Xbox One consoles, PC via Steam, and Nintendo Switch console.

OlliOlli World is expected to benefit from the success of the OlliOlli Series. In OlliOlli World, players can customize their body type, skin tone and hair. Players can also select from various poses, skate tricks, and apparel to showcase their unique style.

OlliOlli World offers two multiplayer modes: Gnarvana League and Gnarvana Portal. In the Gnarvana League players with similar skills are pitted against one another, competing for the highest score. In Gnarvana Portal, players can generate original levels based on selecting parameters like style, difficulty and length.

Undoubtedly, the upcoming game will strengthen Take Two’s gaming portfolio that includes popular franchises like NBA, Grand Theft Auto (GTA) and Borderlands. Take Two keeps building upon its portfolio by innovating and adding new content to franchises.

 

 

Recently, Rockstar Games, another publishing label of Take Two, announced that GTA Online: The Contract is now available to download free for players with a copy of Grand Theft Auto V.

GTA Online: The Contract is playable solo or with friends. This latest massive update to GTA Online features an all-new adventure set inside in the city of Los Santos and Dr. Dre features as a high-profile client.

Expanding Portfolio to Aid Top-Line Growth

Take Two’s shares have outperformed the Zacks Toys-Games-Hobbies industry as well as peers like Activision Blizzard (ATVI - Free Report) and Zynga (ZNGA - Free Report) .

While Take Two’s shares have declined 17.6%, stocks in the Zacks Toys-Games-Hobbies industry have lost 22.4%. Activision and Zynga shares have lost 35.1% and 35.5% year to date, respectively.

However, Take Two underperformed Electronic Arts (EA - Free Report) , which has declined 10.2%.

Take Two’s outperformance against majority of its peers can be attributed to its expanding gaming portfolio.

This Zacks Rank #3 (Hold) company is benefiting from digital revenues that are growing on solid demand for GTA, NBA 2K21, Red Dead Redemption, Borderlands 3, Sid Meier’s Civilization VI, Social Point’s mobile offerings, the WWE series, and the Mafia: Definitive Editions and Mafia: Trilogy. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

For the third quarter of fiscal 2022, Take Two expects GAAP net revenues between $840 million and $890 million. The company forecasts earnings between 85 and 95 cents per share.

Net bookings are projected between $800 million and $850 million.

For fiscal 2022, net bookings are expected between $3.3 billion and $3.4 billion. GAAP net revenues are likely to be $3.35-$3.45 billion. Take Two expects earnings between $2.75 per share and $3 per share.

However, relying on a handful of franchises, a few retail customers and third-party distributors to drive sales are overhangs. Moreover, intensifying competition from the likes of EA and Activision Blizzard is a significant headwind.