Take-Two Interactive’s ( TTWO Quick Quote TTWO - Free Report) publishing label 2K and Disney’s ( DIS Quick Quote DIS - Free Report) Marvel Entertainment have announced the release of Marvel’s Midnight Sun.
The tactical role-playing game, created by the
Civilization and XCOM franchise developer, Firaxis Games, is all set to be launched on Oct 7 and is currently available for pre-order. Marvel’s Midnight Sun is set on the darker side of the Marvel Universe. On release, it will be available on PlayStation 5, PlayStation 4, Xbox Series X|S, Xbox One, and Windows PC via Steam and Epic Games Store. The game’s Nintendo ( NTDOY Quick Quote NTDOY - Free Report) Switch version will be available later.
The game will be available in four editions, namely Standard Edition (available for $59.99), Enhanced Edition (available for $69.99), Digital+ Edition (available for $79.99) and Legendary Edition (available for $99.99).
As a part of the announcement, Take-Two’s 2K also released a new cinematic trailer for the game showcasing the action and the adventure the game will be providing to its players. The developers have introduced several heroes and villains for Marvel fans in the all-new tactical RPG
Marvel’s Midnight Sun. Expanding Gaming Portfolio and Zynga Acquisition Strengthens Balance Sheet
For the fiscal fourth quarter, Take-Two revenues were up 11% year over year, at $839 million. The contributors to the company’s top-line growth were
Grand Theft Auto V, Grand Theft Auto Online, NBA 2K, Red Dead Online and Red Dead Redemption 2, Tiny Tina's Wonderlands, Top Eleven and Two Dots.
The company plans to broaden its portfolio in the near term and has already announced several game line-ups for the remaining of 2022.
Recently, Take-Two’s Private Division announced
Rollerdrome, a third-person action shooter game to be launched digitally on Aug 16. The company has already released WWE 2K22 Most Wanted Pack (May 17), WWE 2K22 Stand Back Pack (Jun 7) and The Quarry (Jun 10) this year.
The company also plans to capitalize its content on new platforms, business models, emerging markets, and distribution channels, intending to scale its business, expand its margins, and deliver long-term value.
Notably, Take-Two completed the acquisition of Zynga in May, which is likely to be a pivotal step for the company to increase its mobile net bookings exponentially in the near term. The acquisition, apart from Take-Two’s portfolio expansion, provides it revenue opportunities and substantial cost synergies.
In the fiscal year 2023, Take-Two expects revenues between $3.67 billion and $3.77 billion. Net bookings are expected to be in the range of $3.75 billion to $3.85 billion. This is a new record for the company. The guidance has taken into account that Take-Two has been releasing twice the number of games this year, which is part of a long-term growth strategy of the company.
financial report released by the company, Take-Two revealed that 24 immersive core games, seven mid-core games, 10 independent games, 20 mobile games, and eight new iterations of previously released titles are in its pipeline over the course of FY2023 - FY2025.
However, this Zacks Rank #3 (Hold) Company faces stiff competition from the likes of Nintendo and
Electronic Arts ( EA Quick Quote EA - Free Report) .
You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recently, Electronic Arts’ Respawn Entertainment and Disney
-owned Lucasfilm Games unveiled the next chapter of the popular Star Wars action-adventure series, Star Wars Jedi: Survivor, scheduled to be launched sometime in 2023.
Nintendo, which dominated the gaming landscape throughout the late 80s and 90s, has several hit franchises like
Brain Age, Kirby, Super Smash Bros., Pokémon and Mario, among others.