Is Take-Two's Stock Price Rally Sustainable?
Take-Two Interactive (NASDAQ: TTWO) is the famed video game maker behind the Grand Theft Auto and Red Dead Redemption series. Sales of its video game titles soared this year as stay-at-home mandates and social distancing efforts eliminated a host of alternative uses for people's spare time. In response to that positive revenue and earnings news, Take-Two's stock price has soared to new all-time highs -- but can it sustain them?
When Take-Two reported its Q1 2020 earnings last week, investors finally got a chance to see exactly how the COVID-19 pandemic has impacted its business, and they were not disappointed. The company's revenue rose 41% year over year to $760.5 million and net income rose a whopping 54%.
Data Source: Take-Two Financial Reports.
Source Fool.com
