These are challenging times for the video-game industry, but you wouldn't know it judging by the quarterly results at Take-Two Interactive (NASDAQ:TTWO) and Activision Blizzard (NASDAQ: ATVI).
Both video-game publishers put out better-than-expected bottom-line results, and they each boosted their outlooks based on marquee titles on the way later this fiscal year. Take-Two Interactive has Grand Theft Auto V in September. Activision Blizzard has Call of Duty: Ghosts in November.
Both game makers are also banking on strong debuts for the Xbox One and PS4 consoles that are due out ahead of this critical holiday shopping season. There will be plenty for the two platforms to prove, as Wii U's rollout late last year wasn't enough to breathe new life into the moribund console gaming industry. We learned this week that a measly 160,000 Wii U systems were sold during this past quarter.
The game's afoot.
Briefly in the news
And now let's take a quick look at some of the other stories that shaped our week.
- 3D Systems (NYSE:DDD) saw revenue soar 45% in its latest quarter, fueled by a more than doubling in sales of printers and other products. Unfortunately, earnings fell well short of expectations. Can a 3-D printer whip up a model of margin improvement?
- Jefferies & Co. analyst Peter Misek raised his price target on Apple (NASDAQ:AAPL) from $405 to $450 on Thursday morning. The problem? Shares of the consumer-tech giant were already trading just above $450 at the time.
- Ford (NYSE:F) keeps stepping on the gas. Its 11% increase in U.S. sales last month made for the automaker's best July showing in seven years. The improving economy is giving drivers enough comfort to trade in their old jalopies.