Let's take a look at some video game stocks.
"Our acquisition of Glu combines amazing teams and deeply engaging products to create a mobile games leader with proven expertise across many fast-growing genres," Andrew Wilson, chief executive of Electronic Arts, said in a statement.
"Mobile continues to grow as the biggest gaming platform in the world, and with the addition of Glu’s games and talent, we’re doubling the size of our mobile business," Wilson continued.
The combined organization will “build on EA’s network of 430 million players, including more than 100 million monthly active players in mobile,” EA said.
The company reported quarterly revenue of $860.9 million on GAAP earnings of $1.57 per share. Analysts were expecting the company to report revenue of $757 million and GAAP earnings of $1.12 per share.
"Due to an incredibly strong holiday season, coupled with our ability to provide consistently the highest quality entertainment experiences, especially as many individuals continue to shelter at home, Take-Two delivered operating results that significantly exceeded our expectations,” said CEO Strauss Zelnick.
Jim Cramer gave members of his Action Alerts PLUS actionable advice on Take-Two following earnings. For more, watch Cramer's exclusive members-only Daily Rundown show.
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