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Take-Two Sees Modest Profit in Latest Quarterly Revenue Report


Take-Two Sees Modest Profit in Latest Quarterly Revenue Report

Rolling in Rockstar riches.

Take-Two Interactive, publisher of such series as Grand Theft Auto and Red Dead Redemption, reports they saw a profit increase in the last fiscal quarter.

Revealed through their earnings release for the last quarter of the fiscal period ending Dec. 31, 2017, the company saw a net revenue of $480.8 million, up from the $476.5 million reported during the same period the year before. Some of its biggest contributors to the increase were titles like Rockstar’s Grand Theft Auto Online,  NBA 2K18, WWE 2K18 and L.A. Noire.

Likewise, the company’s digital revenue reached $258.4 million, up 8 percent from the previous year thanks to their sports titles and Grand Theft Auto Online. DLC, in game currency and microtransaction sales, which have been one of the company’s main focuses, improved as well, seeing an increase of 64 percent and accounting for 32 percent of net profits.

The news has the company optimistic about the coming fiscal year, with Red Dead Redemption 2 set to release during the period with an Oct. 26, 2018 launch date for PlayStation 4, PC and Xbox One.

“We have a robust development pipeline and are better positioned than ever for long-term growth and margin expansion,” Strauss Zelnick, chairman and CEO of Take-Two, says. “We continue to expect to deliver both record net bookings and record net cash provided by operating activities in fiscal 2019, in excess of $2.5 billion and $700 million, respectively, led by the launches of Red Dead Redemption 2 and a highly anticipated new title from one of 2K’s biggest franchises.”

For more on Take-Two’s titles, check out our breakdown of why you should play L.A. Noire on Switch.

[Source: Gamasutra]

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