Digital Sales Save Take-Two
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by Alvar Lagerlöf
9 hours ago

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Digital Sales Save Take-Two
5 February, 2015

Take-Two Interactive Software has managed to sell over 45 million copies of GTA V. However the company’s third fiscal quarter ended December 31. Interestingly enough a big part of that result was achieved thanks to digital sales.

GAAP net revenue stood at $531.1 million, compared to $1.86 billion for the same quarter last year. GAAP net income was $40.1 million compared to $578.4 million for the same period last year. The decline happened because the results for fiscal third quarter 2014 included net revenue and cost of goods sold related to sell-in of the GTA V game during both fiscal second quarter and fiscal third quarter 2014. Grand Theft Auto Online launched during the fiscal third quarter 2014.

If you don’t take into consideration the GAAP basis, the net revenue grew to $954.0 million, up from the $767.7 million for Q3 2014. Net income grew to $211.6 million from $210.7 million last year.

Take-Two said that Non-GAAP net revenue from digital content increased 64% year-on-year to $217.2 million. Virtual currency, DLC sales and online games rose 23%. This is 36% of Non-GAAP net revenue from digital content.

We also generated substantial growth in digitally-delivered revenue, including through our ongoing focus on offerings that drive recurrent consumer spending. As a result of Take-Two’s outstanding holiday season performance, we are raising the Company’s financial outlook for the full year.

GTA V was the biggest hit. 45 million units sold-in on console and with 10 million units on PlayStation 4 and Xbox One. PC version will become available next month and the games total sales will grow tremendously.

The fourth quarter is expected to provide a strong finish to fiscal 2015. Evolve and Grand Theft Auto V are going to be the biggest money-makers for the company.

via Gamesindustry

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