Hello,
pour info.
Sources : Crédit Suisse First Boston.
Subject: CSFB October U.S. Hardware + Software Sales
Hardware Sales for October
PS2: 535,289
Xbox: 239,085
GCN: 169,276
PSOne: 133,641
GBA: 314,183
Cumulative Sales to Date
PS2: 11,819,000
GBA: 8,396,000
Xbox: 3,100,000
GCN: 2,496,000
Life to Date Tie Ratio
PS2: 5.80
GBA: 2.48
Xbox: 4.58
GCN: 4.21
Software Sales
1 PS2 GRANDTHEFTAUTO-VICE CITY TakeTwo Interactive 1,412,429 $68,062,880
2 PS2 NBA LIVE 2003 Electronic Arts 261,514 $13,033,980
3 PS2 KINGDOM HEARTS EA Square 219,962 $10,950,730
4 PS2 MADDEN NFL 2003 Electronic Arts 192,380 $ 9,566,894
5 PS2 HITMAN 2. ASSASSIN Eidos 183,100 $ 9,175,209
6 PS2 TONY HAWKS PRO SKATR4 Activision 165,281 $ 8,217,492
7 PS2 LORD OF RINGS- TOWERS Electronic Arts 148,863 $ 7,406,339
8 PS2 NEED SPEED- PURSUIT 2 Electronic Arts 135,179 $ 6,722,603
9 PS2 TEKKEN 4 Namco 126,909 $ 6,317,694
10 XBX HITMAN2.ASSASSIN Eidos 100,511 $ 5,113,842
11 GBA YU-GI-OH! ETERNAL Konami 177,333 $ 5,022,247
12 GCN MARIO PARTY 4 Nintendo 97,714 $ 4,903,105
13 PS2NBA2K3 Sega 98,185 $ 4,885,699
14 PS2 NHL 2003 Electronic Arts 75,813 $ 3,772,282
15 GCN STAR FOX ADVENTURES Nintendo 73,900 $ 3,706,186
16 PS2 RED FACTION II THQ 72,670 $ 3,616,634
17 PS2 SOCOM.U.S. NAVY SEALS Sony 60,292 $ 3,603,943
18 GBA YOSHI´SISLAND:MARIO3 Nintendo 119,589 $ 3,465,133
19 PS2 TIMESPLITTERS2 Eidos 67,452 $ 3,331,204
20 GCN SUPER MARIO SUNSHINE Nintendo 66,436 $ 3,316,045
21 PS2 GRAND THEFT AUTO 3 Take Two Interactive 64,981 $ 3,233,986
22 XBX TIMESPLITTERS 2 Eidos 61,409 $ 3,014,308
23 PS2 NCAA FOOTBALL 2003 Electronic Arts 59,554 $ 2,959,391
24 PS2 NASCAR THUNDER 2003 Electronic Arts 58,715 $ 2,919,883
. Software sales in the month of October grew 74% year over year and
18% sequentially. New 128-bit console hardware sales increased
sequentially by 12%, and year over year sales grew 184%. For the month
of October, Take-Two´s Grand Theft Auto: Vice City for the PS2 took
the overall top spot with over 1.4M units sold through. Electronic
Arts´ NBA Live 2003 on the PS2 took the #2 spot with 262,000 units sold.
. Electronic Arts´ (ERTS, $67.22, Outperform, TP $87.50) U.S. video
game sales for the first month of the quarter were up 113% versus last
year. Strength in October came from new releases such as NBA Live
2003, Needfor Speed: Hot Pursuit 2, and Lord ofthe Rings: Two Towers,
as well as continued strong sales of Madden NFL 2003 and Medal of
Honor: Frontline.
. Activision´s (ATVI, $20.20, Outperform, TP $37) U.S. sales rose 17%
year over year for the first month of the quarter, with strength
coming from the release of Tony Hawks Pro Skater 4 and continued sales
of Spiderman.
. THQ´s (THQI, $14.35, Outperform, TP $22) U.S. sales increased 38%
year over year in October from the release of Red Faction II and
Spongebob: Revenge of the Flying Dutchman, and continued strong sales
of its portfolio of games, including Sonic Advance on the GBA.
. In the final month of Take-Two´s (TTWO, $28.25, Outperform, TP $34)
quarter, sales are up approximately 219% on the strength of its mature
rated and PS2 Greatest Hits products, and the highly anticipated
release of Grand Theft Auto: Vice City, which sold approximately 1.4M
units in its first five days, which was certainly at the high end of
expectations for the title. We expect revenue growth of 45.6% in the
quarter, or $179m, and EPS of $0.47. Midway´s (MWY, $5.35,
Underperform, TP $3) U.S. sales in the quarter were down 22% year over
year, but the company has yet to release Mortal Kombat.
. The data shows that the cycle is clearly on track. We believe that
the strength of the numbers for October, particularly on the hardware
side of things is indicative of a strong holiday selling season. We
continue to believe that EA is the company best positioned to take
advantage of the growth in this industry . It remains our top pick in
the space, even at these levels. Among the smaller cap names we
continue to believe that ATVI and TTWO represent solid investment
opportunities, depending on your tolerance for risk
