When electronics providers like Wal-Mart
It has happened to many businesses: As in romance, the one who brought you to the dance can also be the one who breaks your heart. Take-Two's Grand Theft Auto helped propel the stock to a gain of more than 400% since 1999. But the same label that caused its stock to dance a jig over the past few years is also the one that bust its moves in the latest report.
The company lost $0.41 per share in the third quarter, more than the $0.38 that analysts had anticipated. Net sales of $169.9 million also fell below consensus estimates of $175.6 million. Revenues grew by a mere 5.6% over the same period a year ago.
When you toss in the sack it took from Electronic Arts
As the market digests the latest hit to its bottom line, it's likely that Take-Two's stock will continue to feel pressure over the next several weeks. While some head for the exits, it may be a good time to take a closer look at this company's performance. 2006 is likely to be a platinum year for many game developers.
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Best Buy and Electronic Arts are Motley Fool Stock Advisor recommendations.
Fool contributor Jeremy MacNealy does not own shares in any of the companies mentioned.