NEW YORK, NY / ACCESSWIRE / November 9, 2017 / It's been a fantastic week so far for Take-Two Interactive Software. The company beat in revenues in its earnings, boosted its guidance looking forward, and saw its stock hit a brand new high. The company has had a record year with Grand Theft Auto V. Shares of Activision Blizzard also soared as its own game Call of Duty hit its own record, selling over $500 in its three-day weekend launch.

RDI Initiates Coverage on:

Activision Blizzard, Inc.
http://www.rdinvesting.com/report/?ticker=ATVI

Take-Two Interactive Software, Inc.
http://www.rdinvesting.com/report/?ticker=TTWO

Activision Blizzard, Inc. shares closed up 5.89% on Wednesday with about 12.6 million shares traded. Shares soared after it was revealed that this year's "Call of Duty" made over $500 in its launch weekend surpassing any other launch. The interactive entertainment company announced the news yesterday and also said that "on the Sony Corp. PlayStation 4, "Call of Duty: WWII" set a record as the best-selling digital full fame by units sold on its first day of availability." While the game hit a record, the company is also facing legal action for portraying Humvee models and trademark "HMMWV" logo without permission from AM General. Earlier this month the company also released its third-quarter 2017 earnings which had non-GAAP earnings at 47 cents, trailing the 50 cent estimate of Wall Street. Revenue however at $1.9 billion beat the $1.7 billion expectation of analysts.

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Take-Two Interactive Software, Inc. shares closed up 10.58% on around 8.3 million shares traded on Wednesday. The stock even hit a new high of $120.62 during intra-day trading yesterday. The company is now the highest gainer of the year next to the three major U.S. video game publishers. The stock has soared 138% on the year. CEO Strauss Zelnick told CNBC's Jim Cramer on Wednesday, "It's amazing what's happened with Grand Theft Auto V. We've sold in 85 million units and we're having another record year with Grand Theft Auto Online which, as you know, is not our expectation. Four years after initial release, the audience is growing and people love it more than ever." It was earlier in the week that Take-Two boosted its guidance, forecasting adjusted revenue of $1.93 billion to $2.03 billion for its fiscal 2018 ending March 31. Previously the company had forecast $1.65 billion to $1.75 billion. For the current third quarter, the company expects revenue of $610 million to $660 million. Wall Street was waiting for revenue of $546 million. In the second quarter, Take-Two reported adjusted revenue of $577 million. This was higher than the average analysts' estimate of $511.3 million.

Access RDI's Take-Two Interactive Software, Inc. Research Report at:
http://www.rdinvesting.com/report/?ticker=TTWO

Our Actionable Research on Activision Blizzard, Inc. (NASDAQ: ATVI) and Take-Two Interactive Software, Inc. (NASDAQ: TTWO) can be downloaded free of charge at Research Driven Investing.

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