Take-Two Reports After the Close next Tuesday

Take-Two Interactive (NASDAQ:TTWO)

Take-Two Interactive (NASDAQ:TTWO) is set to report Q2 2010 results next Tuesday (June 8th) after the bell closes. TTWO shares are trading flat today at around $11.50 and thus far in 2010 its stock is up 14%.

The Street is looking for Take-Two Interactive (TTWO) to report earnings of $0.27 on sales of $284 million on June 09, 2010. For the full year, analysts expect the company to post a loss of $0.43. In the year-ago period, the company reported a loss of $0.11 on sales of $230 million. In the previous quarter, the company reported a loss of $0.31, topping consensus estimates for a loss of $0.51.

WallStNation.com Sponsors

Yesterday the Nation talked up Buying What's Out of Favor: Activision Blizzard and Electronic Arts (click to read)>> as some of the best video stocks have taken a dive this year thanks to dismal outlooks.

http://www.2dayblog.com/images/2008/june/niko_3.jpgApril video game sales 26%, the market's sharpest decline since last July.  Market research firm NPD Group said U.S. sales of videogame hardware, software and accessories for the month fell to $766.2 million from $1.03 billion a year earlier. Anita Frazier, an analyst with the firm, said it was the fourth-largest year-over-year percentage decline ever.  NPD blamed a drop in demand for console games that were released in March as well as declining sales of Nintendo Co.'s DS portable game device. Software sales fell 22% to $398.5 million, NPD said, a significantly bigger decline than analysts' estimate of a 5% drop.

The weak results come as investors have expressed concern about the impact of casual games that are inexpensive—or even free—and are popular on sites such as Facebook and on devices such as Apple Inc.'s iPhone and iPad.  Results for April could fuel those worries. NPD said casual, family-oriented titles for videogame consoles and portable game devices around themes like music, sports and fitness comprised a smaller percentage of overall game sales than a year earlier.



Take-Two's stock has gone a remarkable job of bucking the trend since late last year despite the overall bearish tone on the video game stocks.  If Take-Two can deliver on next week's call, expect the trend to continue otherwise the selloff could be brutal.

Disclaimer: No positions in any of the securities mentioned in this publication.

SOURCE: http://www.mysmartrend.com/news-briefs/news-watch/earnings-preview-take-...

WallStNation.comThanks for visiting WallStNation.com, to assist your investing research try using our Search (click to access) or review the list of Tickers (click to access) that link directly to articles related to the given stock/security.

To Browse our Most Recent Stories (click here)

Share WallStNation.com Content

Share this article with others, WallStNation.com is the Independent Wall Street Newspaper. Thanks for Reading!

Daily Market Summary

Please Review the WallStNation.com Disclaimer and remember that information provided by our site is at the investor's sole financial risk. Please Review for more Details