Take-Two (TTWO) Releases WWE 2K Battleground With Cross Play
Take Two Interactive’s TTWO 2K division recently announced the availability of WWE 2K Battlegrounds, the newest addition to its WWE 2K simulation franchise and WWE SuperCard collectible card battling game.
Developed by Saber Interactive, WWE 2K Battlegrounds features a roster of more than 70 WWE Superstars and Legends, as well Custom Superstars.
WWE 2K Battlegrounds is available in two formats, Standard Edition (MSRP $39.99) and Digital Deluxe Edition (MSRP $49.99) for the PS4 system, the Xbox One family of devices, including the Xbox One X and Windows PC via Steam, Nintendo Switch system and Stadia.
Moreover, the Xbox Store and the Steam Store have confirmed that WWE 2K Battlegrounds will have cross-play enabled between Xbox and PC for players to combat on the cross-platform online.
Features & Modes to Attract Players
WWE 2K Battlegrounds will feature multiple modes for gameplay including three main online modes, Exhibition, King of the Battlegrounds, and Tournaments. Each mode will have a different duration and different entrance requirements.
Players will compete across multiple maps and arenas for a WWE Contract with the aim being to eventually get to Wrestlemania.
Each Superstar utilizes one of five class styles, and each class style has its own combat moves, strengths and weaknesses. Players get to choose from the Powerhouse, Technician, High-Flyer, Brawler and All-Rounder to find the style that works best for them.
Moreover, arcade-style power-ups, such as Flaming Fist, Ice Breath and Earthquake, are accompanied by colorful visual effects, offering an additional dimension of strategy that can quickly change the direction of a match.
Expanding Portfolio Stokes Top-Line Growth
Markedly, Take Two has been one of the top-performing video-gaming stocks on a year-to-date basis. Shares have returned 29.5% year to date, outperforming the S&P 500 Index.
Year-to-Date Performance
The outperformance can be attributed to portfolio strength. The company’s first-quarter fiscal 2021 GAAP net revenues surged 53.8% year over year to $831.3 million.
Solid adoption and heightened user-engagement levels of games including Grand Theft Auto (GTA) Online and GTA V, NBA 2K20, Red Dead Redemption 2 and Red Dead Online, Borderlands 3, Sid Meier’s Civilization VI, Social Point’s mobile offerings, the WWE series, and The Outer Worlds drove top-line growth.
Videogame sales have been rising for the past couple of months as the coronavirus pandemic has kept people confined to their homes. After an impressive first quarter, and rise in April and May, video game sales hit an all-time high in the second quarter, according to the latest figures from NDP.
According to new data from the NDP Group, the video game industry shattered sales records in the second quarter, with Americans spending a whopping $11.6 billion on games. This marked the highest total second-quarter spending on gaming in U.S. history.
The jump reflects a 30% year-over-year increase and a 7% increase from the first quarter.
In fact, Take Two’s growth is primarily driven by GTA and Red Dead Redemption, its most popular franchises. Moreover, the company’s strong momentum is expected to continue due to increased consumer spending and active-user hours on video games, stemming from coronavirus-induced stay-at-home orders.
Additionally, the availability of Disintegration, a hybrid first-person shooter and real-time strategy game, is expected to further expand user base.
Further, upcoming releases such as Private Division’s Kerbal Space Program: Shared Horizons free update for console, 2K’s PGA Tour 2K21 and Mafia I for PS4, Xbox One and PC are expected to boost user engagement and bode well for the company’s prospects.
Moreover, Take Two’s acquisition of Barcelona-based free-to-play mobile-game developer Social Point is helping this Zacks Rank #3 (Hold) company fast penetrate the rapidly growing mobile-gaming market. Social Point continues to expand its gaming portfolio with the launch of Tasty Town and Word Life. It has a robust slate of new releases (10 games) for the remainder of 2021.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Furthermore, the strong portfolio is expected to boost Take Two’s competitive position against the likes of Electronic Arts EA, Zynga ZNGA and Activision Blizzard ATVI, among others.
Zacks’ Single Best Pick to Double
From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
With users in 180 countries and soaring revenues, it’s set to thrive on remote working long after the pandemic ends. No wonder it recently offered a stunning $600 million stock buy-back plan.
The sky’s the limit for this emerging tech giant. And the earlier you get in, the greater your potential gain.
Click Here, See It Free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Activision Blizzard, Inc (ATVI) : Free Stock Analysis Report
TakeTwo Interactive Software, Inc. (TTWO) : Free Stock Analysis Report
Electronic Arts Inc. (EA) : Free Stock Analysis Report
Zynga Inc. (ZNGA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
