Take-Two Interactive revenues increased by up to 142% in the last fiscal quarter, the publisher has announced.
For the three months ending June 30, the publisher’s revenues increased to $366.4 million, $34.2 million of which was profit. During the same quarter last year, the publisher posted a loss of $11.2 million.
The PC release of Grand Theft Auto V is said to be the driving factor behind the numbers, with Take-Two reporting that over 54 million copies of Rockstar’s open world crime caper have been shipped across all formats since the game first came out on PS3 and Xbox 360 back in September 2013. Healthy sales of NBA 2K15, WEE 2K15 and Borderlands: The Handsome Collection also contributed to the total.
The publisher also enjoyed strong demand for digital content, with revenue generated by downloadable games and add-ons accounting for $254 million (Around 69 percent) of the company’s revenue. Around 25 percent of that was generated by gamers purchasing virtual currency, DLC or online games: about $91.6 million. That’s an increase of 47% year-on-year.
“Our business continued its positive momentum during the fiscal first quarter, enabling Take-Two to deliver significant growth in revenue, Non-GAAP earnings and cash flow,” said Strauss Zelnick, Chairman and CEO of Take-Two. “These results were driven by strong consumer demand for Grand Theft Auto V, NBA 2K15 and an array of other titles, along with better-than-expected growth in recurrent consumer spending.
“Fiscal 2016 is off to a solid start and promises to be another year of meaningful Non-GAAP profits for our organization. We have a robust development pipeline and are well-positioned to generate revenue growth and margin expansion in future years, and returns for our shareholders over the long-term.”
Looks like the long wait for Grand Theft Auto V on PC didn’t hurt the game’s prospects after all.
Take-Two said that it expects to see strong results moving forward thanks to the rest of its lineup for this financial year. NBA 2K16 is due for release Spetember 29, with WWE 2K16 following a few weeks later on October 27. Meanwhile, the first expansion for Sid Meier’s Civilization: Beyond Earth, the rather nifty-looking Rising Tide, currently has a projected release window of sometime in the Autumn. After that, things go a bit quiet until February 9, 2016, when Geabox’s much-anticipated team-based shooter Battleborn launches. The recently-announced Mafia 3 so far has a vague “Fiscal Year 2017” release window.