Rockstar Games Announcing “Exciting Projects” Soon; Take-Two Releases Financial Results

on May 18, 2016 4:03 PM

Take-Two Interactive announced today its financial results for fiscal year 2016, ended on March 31st, 2016.

  • GAAP Net Revenue Grew 31% to $1.414 Billion
  • Non-GAAP Net Revenue was $1.561 Billion
  • GAAP Net Loss Narrowed to $0.10 Per Diluted Share
  • Non-GAAP Net Income Was $1.96 Per Diluted Share

CEO Strauss Zelnick accompanied the press release with a comment, including the tease of “exciting projects” to be announced soon by Rockstar Games.

“Fiscal 2016 marked the third consecutive year of stronger-than-expected Non-GAAP revenues and profits for Take-Two. Our results were driven by the continued extraordinary performance of Grand Theft Auto V, ongoing momentum in our NBA2K and WWE 2K series, the successful launch of XCOM 2, and our highest-ever revenue from recurrent consumer spending.”

“Fiscal 2017 is poised to be another strong year for Take-Two, with anticipated Non-GAAP earnings in excess of $1.00 per share. Our diverse lineup includes the new intellectual property Battleborn,which we released earlier this month, and the eagerly anticipated upcoming launches of Mafia III, Sid Meier’s Civilization VI, NBA 2K17 and WWE 2K17. We plan to support these titles with innovative offerings designed to promote ongoing engagement and drive recurrent consumer spending. Looking ahead, we expect to grow Non-GAAP revenues and earnings in fiscal 2018, based on our robust development plan that extends well beyond the current fiscal year. Rockstar Games is of course hard at work on some exciting future projects that will be revealed soon.”

The company also shared a few highlights about both its subsidiaries Rockstar and 2K games. Incidentally, during the follow-up conference call it was mentioned that Grand Theft Auto V has now shipped over 65 million units.

Rockstar Games:

  • Released new free content updates for Grand Theft Auto Online, including:
    • A May 3, 2016 update featuring the new ‘In & Out’ Adversary Mode and more.
    • GTA Online Lowriders: Custom Classics, featuring two new upgradeable muscle cars plus an additional upgrade style for an existing lowrider, new weapons, clothing and tattoos, as well as the “Sumo” Adversary Mode.
    • Grand Theft Auto Online: Be My Valentine, featuring an updated Albany Roosevelt classic car, new clothes and accessories, the couples-based “Till Death Do Us Part” Adversary Mode, along with the return of all content from the previous Valentine’s Day update.
    • A January 28, 2016 update featuring the new “Drop Zone” Adversary Mode, two new high-end vehicles and additional improvements to Grand Theft Auto Online.
  • Released Grand Theft Auto: Liberty City Stories for Android devices. Originally designed with mobile gameplay in mind, Grand Theft Auto: Liberty City Stories is also available for select iOS devices.
  • Rockstar Games also is hard at work on some exciting future projects that will be revealed soon.

2K:

  • Entered into a new multi-year partnership agreement with WWE granting 2K the exclusive worldwide rights to develop and publish WWE video game properties across all major platforms and distribution channels.
  • Launched Battleborn™, a groundbreaking new title from the creators of Borderlands at Gearbox Software, on PlayStation 4, Xbox One and PC. Battleborn is being supported with a rich array of both free and paid additional content, including a Season Pass, as well as the free-to-playBattleborn Tap companion App, which mirrors the game’s progression and loot system.
  • Launched the physical release of Tales from the Borderlands, the critically acclaimed and award-winning episodic adventure game from Telltale Games, on PlayStation 4, PlayStation 3, Xbox One, Xbox 360 and PC.
  • Released WWE 2K16 on Windows PC. Developed collaboratively by Yukes and Visual Concepts,WWE 2K16 is being supported with downloadable add-on content, including a Season Pass, and is also available on Xbox One, Xbox 360, PlayStation 4 and PlayStation 3.
  • Launched XCOM 2, the sequel to the Game of the Year award-winning strategy title XCOM: Enemy Unknown, for PC. Developed by Firaxis Games, XCOM 2 received outstanding review scores, with IGN awarding it a 9.3 out of 10 and saying, “XCOM 2 is an amazing game”, along with PC Gamer writing, “We’ll play this forever,” and awarding it a 94% out of 100%. Game Informer Magazine also wrote that XCOM 2 is “one of the deepest and most rewarding strategy games on the market” and awarded it a 9.5 out of 10. XCOM 2 is being supported with an array of downloadable add-on content, including the now available Anarchy’s Children and Alien Hunters packs, adding even more customization options and replayability.
  • Announced that Sid Meier’s Civilization VI, the next entry in the award-winning turn-based strategy franchise that has sold-in over 34 million units, is currently in development for PC at Firaxis Games and planned for launch on October 21, 2016. Sid Meier’s Civilization VI will offer players new ways to engage with their world, advance their culture, expand their empire across the map, and play amongst history’s greatest leaders to build a civilization that will stand the test of time.
  • Announced that Mafia® III, the next installment in 2K’s successful organized crime series that is currently in development at Hangar 13, is planned for launch on October 7, 2016 for Xbox One, PlayStation 4 and PC. Collector’s, deluxe and standard editions of Mafia III will be available for all three platforms, and those who pre-order any edition of Mafia III will receive the Family Kick-Back, which includes three exclusive vehicles and weapons available to players at launch.

Interestingly, we also get the company’s forecast for the current fiscal year, predicting a Non-Gaap net revenue of $1.5 billion to $1.6 Billion pretty much in line with the past fiscal year’s results. This is a possible indication that whatever is coming from Rockstar Games isn’t going to be released before March 31st, 2017, as it would considerably inflate revenue expectations.

Last, but not least, below is a list of games that have announced release windows for the current fiscal year:

2K

 /  Executive News Editor
Hailing from sunny (not as much as people think) Italy and long standing gamer since the age of Mattel Intellivision and Sinclair ZX Spectrum. Definitely a multi-platform gamer, he still holds the old dear PC nearest to his heart, while not disregarding any console on the market. RPGs (of any nationality) and MMORPGs are his daily bread, but he enjoys almost every other genre, prominently racing simulators, action and sandbox games. He is also one of the few surviving fans of the flight simulator genre on Earth.
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