Publisher Take-Two Interactive generated $1.27 billion in revenue for its fiscal Q2.
That’s a big beat for the company. Wall Street expectations had anticipated that the Grand Theft Auto maker would only report quarterly revenue in the $922 million range. The company also reported an earnings per share (EPS) of $2.49. That beats estimates of $1.48. That’s a gigantic success for the game company.
“During the fiscal second quarter, we delivered record non-GAAP [generally accepted accounting practices] results driven by the unprecedented success of Rockstar Games’ Grand Theft Auto V,” Take-Two chief executive Strauss Zelnick said in a statement. “The title received stellar reviews, shattered entertainment industry records, and has already sold-in nearly 29 million units to date.”
Yes, you read that right — Take-Two and developer Rockstar have sold nearly 29 million copies of Grand Theft Auto V. That’s a staggering success. Although, it is important to keep in mind that “sold-in” refers to the games sold to retailers and not necessarily purchased by gamers. This is more indicative of what retailers believe the demand is.
“The extraordinary success of Grand Theft Auto V illustrates the positive momentum in our business and consumers’ enduring appetite for the highest-quality interactive entertainment,” said Zelnick.
The CEO doesn’t expect the money to stop pouring in anytime soon. Zelnick believes that his publisher will remain profitable every year for the foreseeable future.
“Take-Two has an extensive development pipeline of groundbreaking new intellectual properties and exciting titles from our proven franchises, along with digitally delivered offerings to complement our core business,” he said. “We currently have more than 10 unique titles planned for next-generation consoles, including multiple releases slated for fiscal 2015.”
Take-Two Interactive Software, Inc. is a leading developer, marketer and publisher of interactive entertainment for consumers around the globe. The Company develops and publishes products th... All Take-Two Interactive Software news »
Strauss Zelnick, a partner in ZelnickMedia since 2001, became Chairman of Take-Two in March 2007 and Chief Executive Officer in January 2011. Mr. Zelnick is currently Chairman of ITN Network... All Strauss Zelnick news »