Take-Two Reports Mixed Quarter; Issues Strong Holiday Sales Guidance
Take-Two posted a mixed quarter as fiscal 2018 second-quarter revenue came in ahead of expectations, but EBITDA fell well short of projections. Management provided stronger-than-expected holiday guidance to account for continued strength from GTA V and growth from the recently released NBA 2K18 and WWE 2K18 games. We are maintaining our no-moat rating at this time and our fair value estimate of $60. With shares trading well above our fair value estimate, we would seek a wider margin of safety be...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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