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TWST: How well have the interactive entertainment stocks held up in
2001?
Mr. Iribarren: This has been a very good year for entertainment software
publishers. These stocks really started to move in the last few months
of 2000 and they've been marching up since then. We did have a bit of a
dip on the back of the September 11th tragedy, but we've recovered
nicely since then and we're pretty much right back at the year's highs. TWST: Have reported earnings been in line with your expectations?
Mr. Iribarren: For the most part yes. Several publishers in the sector
have actually outperformed expectations through the year, although some
of the smaller publishers have really struggled. During 2001, we were in
the last throes of the console transition, and the smaller players
really had the hardest time with that, having less diverse revenues and
earnings. We've seen a couple of those companies find the going tough.
But for the most part, these companies, particularly the larger ones,
have exceeded analyst expectations.
Tickers included in this excerpt: ATVI, ERTS, IPLY, MSFT, MWY, SEGNY, SNE, THDO, THQI, TTWO
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