Take-Two net revenue up 15% for fiscal Q3

Take-Two once again saw better than expected results for the quarter ending December 31st.

The 2K Games and Rockstar parent firm reports net revenue rising 15 per cent to $476.5m, thanks to GTA V, Grand Theft Auto Online, WWE 2K17, NBA 2K17 and Civilization VI.

Meanwhile digital revenue soared 64 per cent to a sizeable $240.2m. 39 per cent of Take-Two’s digital revenue came from recurrent consumer spending – virtual currency, microtransactions and DLC.

Take-Two says this is the best ever quarter for recurrent consumer spending, contributing 20 per cent to the publisher’s overall net revenue.

The largest contributors to this digital figure were – unsurprisingly – Grand Theft Auto V and its Online component, while Civilization VI and NBA 2K17 were also named.

So far, five million units of Mafia III have been shipped to retail, alongside 1.5m copies of Civilization VI.

Take-Two had a highly-successful holiday quarter,” said Take-Two boss Strauss Zelnick.

Consumer demand for our new releases and catalog titles was strong throughout the period, and players continued to engage significantly with our games after purchase. As a result, we delivered better- than-expected bookings, including our best-ever quarter for recurrent consumer spending, along with double-digit growth in both net revenue and net cash provided by operating activities.

Last week, we deployed a portion of our Company’s cash on hand to acquire Social Point, a highly- successful free-to-play mobile game developer that has a proven track record of growing revenues and delivering multiple hits. We are incredibly excited about this acquisition, which reflects our strategy to deploy our capital resources prudently and to take measured risks that provide immediately accretive opportunities for our business and the potential for long-term growth.

Looking ahead, our Company has a robust long-term development pipeline and is better positioned for success than at any time in its history. We expect to grow both bookings and net cash provided by operating activities in fiscal 2018, driven by our release slate led by Rockstar Games’ highly anticipated launch of Red Dead Redemption 2.”

Keep your eyes peeled to the next issue of MCV for our interview with Strauss Zelnick

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