Take-Two Reports Mixed End to Fiscal 2019; Recurring Revenue Remains a Key Driver
Take-Two ended its fiscal 2019 on a mixed note as fourth-quarter revenue came in just under Street estimates and EBITDA slightly beat expectations. Results continue to be driven by NBA 2K19, Red Dead Redemption 2, and GTA V. The company issued weaker-than-expected guidance for fiscal 2020, particularly for revenue, but came in ahead of our below-consensus estimates. We are maintaining our narrow moat rating but are raising our fair value estimate to $118 from $114 as we have increased our fiscal...Take-Two Interactive Software is a developer, publisher and marketer of interactive entertainment for consumers. The company develops and publishes products principally through its two wholly-owned labels Rockstar Games and 2K, as well as its Private Division label and Social Point, a developer of mobile games. The company's products are designed for console gaming systems such as the Sony Computer Entertainment, Inc. PlayStation?4, Microsoft Corporation Xbox One?, and Xbox 360?, the Nintendo Switch, and personal computers, including smartphones and tablets. The company delivers its products through physical retail, digital download, online platforms and cloud streaming services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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