February, 2021

Gaming tailwinds are propelling Take-Two

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Take-Two (TTWO)

ake-Two reports 21Q3 earnings today after the bell. Many investors are drawing comparisons to gaming peer, Activision, whose shares spiked last week after announcing better-than-expected results and raising guidance. 

What does LikeFolio data say?

Take-Two demand improved during Q3, driven by sustained gaming mentions and a successful NBA 2K21 release.

New gaming mentions increased 67% YoY in the last quarter and generic gaming mentions increased 22% in the same time frame.

new gaming mentions

Take-Two gaming mentions were also bolstered by the explosive release of new gaming consoles PlayStation 5 and Xbox Series S,X just ahead of the Holiday season.

Mentions of playing a Take-Two game on a new console increased 15% YoY in Q3.

A sustained increase in gaming mentions alongside renewed hype from new gaming consoles may be positive indicators for another key piece of TTWO revenue: recurring consumer spending (in-game purchases). 

Last quarter, recurring consumer spending increased by 43% YoY and accounted for ~64% of total net bookings. 

Meaning, once consumers buy or download a game, the buck doesn’t stop there. 

We’ll see how this all stacks up to investor expectations this afternoon.

PEP: Commercial Reaction

Doritos (PEP) commercials have become a Super Bowl mainstay, and every year we see a massive influx of consumer buzz as a result.

This year’s installment, starring actor Matthew McConaughey, sparked a surprising consumer reaction…

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