Is Take-Two Interactive Stock a Buy Now?
With the economy slowing down, some investors might be wondering how top video game producer Take-Two Interactive (NASDAQ: TTWO) will hold up in the near term.
Video game-related sales have certainly softened this year. The trend has been most pronounced in gaming hardware. Microsoft reported that its Xbox hardware revenue fell 11% in the quarter that ended June 30. Meanwhile, Logitech International, a leading manufacturer of gaming peripherals, reported a revenue decline of 16% in gaming products in its most recently reported quarter.
Take-Two will report its earnings for those three months on Monday, Aug. 8. Competitor Activision Blizzard just reported declines in its revenue and monthly active users for the second quarter, so expectations for Take-Two are low. Pessimism has driven its stock price down by 25% year to date.
Source Fool.com
