Gaming Sector Report Card: 2 Up, 1 Down, 2 To Report

However, the outlook has dampened the sentiments of two other stocks in the space: Nintendo Co., Ltd (ADR) NTODY and Zynga Inc ZNGA.

Related Link: "Overwatch" Success Is A New Tentpole For Activision Blizzard

Electronic Arts was the first to kick-start the sector with its earnings beat by 450 percent. It might have come as little surprise, however, as earnings topped estimates in preceding quarters as well. However, the percentage of positive surprise was a pleasant one. Electronic Arts was seen up roughly 2 percent on Friday.

Take-Two followed suit on August 4 to report earnings and revenue beats. Its outlook for the third quarter and full year also satisfied investors, resulting in the stock moving higher on Friday by almost 3 percent.

Similarly, Activision reported better-than-estimated earnings number. However, it provided revenue below the estimate, while its EPS forecast was above the expectations. At time of writing, the stock traded down 1.20 percent at $40.34.

This negative sentiment percolated to Nintendo and Zynga, which have yet to report their earnings number. Both stocks were seen trading down by more than 10 percent and 7 percent, respectively, on Friday. However, at time of writing, Zynga was down 7.24 percent on the day at $2.76 and ADRs of Nintendo were down 3.31 percent in after-hours trading at $28.04.

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