NEW YORK, NY / ACCESSWIRE / August 4, 2017 / It was a good day for video game publisher Take-Two Interactive on Thursday, as shares galloped to a new record high after the company smashed in its first quarter earnings report. Several analysts bumped their price targets on the stock shortly after the company reported earnings late Wednesday. Shares of Activision Blizzard weren't so lucky yesterday and saw a decline despite also beating in its second quarter earnings report.

RDI Initiates Coverage on:

Take-Two Interactive Software, Inc.
https://ub.rdinvesting.com/news/?ticker=TTWO

Activision Blizzard, Inc.
https://ub.rdinvesting.com/news/?ticker=ATVI

Take-Two Interactive Software, Inc.'s shares were scoring big on Thursday, closing the day up 12.22%. The stock also hit a new record high of $89.90 during intra-day trading and saw trading volume that was about 5 times higher than usual. The reason for the big jump was because the New York-based video game publisher reported fiscal first quarter results late Wednesday that beat estimates. The company reported 41 cents for earnings, excluding items, on sales of $348.3 million. The Street had been waiting for 10 cents and $269.4 million. The company cited that its top franchises "Grand Theft Auto" and "NBA 2K17" for its strong sales in the quarter. Andrew Uerkwitz of Oppenheimer commented, "The power of 'Grand Theft Auto' and recurring revenue is undeniable, as we now model year-over-year earnings-per-share growth in a year with zero non-annual refresh title launches." The firm has an "outperform" rating on the stock and it raised its price target from $85 to $93. Oppenheimer was one among many firms to raise their price increases on Thursday. Timothy O'Shea of Jefferies raised his price target from $91 to $108.

Access RDI's Take-Two Interactive Software, Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=TTWO

Activision Blizzard, Inc.'s shares closed down 4.10% on Thursday, though gave back some of those gains in after-hours trading. The stock dropped 2.81% after the bell closed. Trading volume was almost double compared to usual yesterday after the company beat forecasts in its second quarter earnings. Net income for the period was $243 million. On a per-share basis, the video game company reported net income of 32 cents. Earnings at 55 cents, after being adjusted for amortization costs stock option expense, deferred revenue, was ahead of the 30 cents the Street expected. Adjusted revenues of $1.42 billion were also ahead of the $1.21 billion that the Street had waited for. The "Call of Duty" maker also reported an outlook for the fiscal third quarter that beat expectations. For the fiscal third quarter, Activision is projecting revenue in the range of $1.39 billion while analysts were calling for $1.65 billion. Since the start of the year, shares of the stock have gained 77% and 58% in last one year.

Access RDI's Activision Blizzard, Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=ATVI

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

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