Take-Two Earnings - GTA V Sells 54 Million Units

11th August, 0 replies

In its latest earnings report Take-Two reports that Grand Theft Auto V has now sold over 54 million units. That's an increase of 2 million units over the last quarter.

Take-Two's non-GAAP revenue rose year-on-year by 142 percent to $366.4 million and the company posted an overall profit of $34.2 million for the quarter, which compares favourably with a $11.2 million net loss last year. Take-Two's GAAP revenue also grew 119% to $275.3 million, however the company made a net loss of $67.0 million.

The largest contributors to net revenue in this first quarter were Grand Theft Auto V, NBA 2K15, Borderlands: The Handsome Collection, and WWE 2K15.Net revenue from digitally-delivered content grew 139% year-over-year to $254.0 million, and this is attributed to Grand Theft Auto, NBA 2K, Borderlands, WWE 2K series, and Evolve.

“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.”

Source:

goo.gl/…

Around the Network

0 COMMENTS
Reply

Related Brainwaves

Trending Articles