Take-Two Starts 2018 on a Strong Note; GTA Online Remains a Key Driver
Take-Two posted a strong start to fiscal 2018 as first-quarter revenue and EBITDA exceeded expectations. Management updated fiscal 2018 guidance to account for the strong quarter and the extended life of Grand Theft Auto V for the purpose of deferrals. We retain our narrow moat rating, and we raise our fair value estimate to $60 from $52 as we incorporate a longer tail for GTA V and larger impact for Red Dead Redemption 2, or RDR 2. With shares trading above our new fair value estimate, we would...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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