Take-Two Posts Financials, Shows Stronger-than-Expected Results, but Delays Battleborn
Take Two Interactive posted its quarterly financial results today, related to the period between July 1st and September 30th.
Revenue grew by 169% to $364.9 Million, while net income was $54.7 million. The company also raised its predictions for the third quarter and for the full year, respectively to revenues of $400 to $450 Million and $1,325 to $1,425 Billion
CEO Strauss Zelnick accompanied the press release with a comment:
“Take-Two once again delivered better-than-expected Non-GAAP revenue and earnings growth. Our second quarter results were anchored by the series record-breaking launch of NBA 2K16, along with ongoing demand for Grand Theft Auto V and strong growth in recurrent consumer spending.
“Our holiday season is off to a great start, including the successful release of WWE 2K16, and we expect the installed base of new-gen consoles to expand further and broaden our global audience. We are raising our fiscal 2016 financial outlook to reflect our outperformance in the second quarter and positive forecast for the balance of the year. With our robust development pipeline and increasing contribution from recurrent consumer spending, Take-Two is better positioned than ever to generate revenue growth and margin expansion in future years, and returns for our shareholders over the long-term.”
We also get a few highlights about both Rockstar and 2K games:
- Released new free content updates for Grand Theft Auto Online, including:
- Ill Gotten Gains Part 2, featuring new vehicles, weapons, outfits and the addition of The Lab radio station to consoles;
- Freemode Events, the first update exclusively for PlayStation 4, Xbox One and PC, which seamlessly integrates dozens of games and challenges directly into the game’s open world without lobbies or menus, adds two new Adversary Modes, and brings the Rockstar Editor to consoles with additional new features;
- Lowriders, which adds new and upgraded vehicles including specific lowrider customization options such as hydraulics, new Adversary Modes, new Lowrider-themed Contact Missions, an array of new clothing, tattoo and accessory options, as well as upgrades to both Freemode and the Rockstar Editor’s Director Mode; and
- Halloween Surprise, featuring a new Halloween-themed adversary mode plus special vehicles, masks and more.
- Launched NBA 2K16 on PlayStation 4, PlayStation 3, Xbox One, Xbox 360 and PC, as well as on iOS and Android devices. The title is the highest-rated sports game of 2015 on Xbox One* and set an unprecedented record for the series, selling-in over four million units worldwide within the first week of release. According to The NPD Group, adjusting for days in market, NBA 2K16had the best launch month of any sports game during the new console cycle.
- Launched WWE 2K16 on Xbox One, Xbox 360, PlayStation 4 and PlayStation 3. Developed collaboratively by Yukes and Visual Concepts, the title has received strong reviews from the gaming press, which reflect its significant improvements versus last year’s release and are among the best ever received by the series. IGN scored WWE 2K16 an 8.8 out of 10, stating that the title is “as close to a fusion of performance and competition as a wrestling game has ever gotten.” WWE 2K16 is being supported with downloadable add-on content, including aSeason Pass.
- Released Sid Meier’s Civilization®: Beyond Earth™ – Rising Tide for PC. Developed by Firaxis Games, Rising Tide is a massive expansion pack for the 2014 turn-based strategy title, Civilization: Beyond Earth.
- Released WWE SuperCard – Season 2 for iOS and Android devices. Season 2 updates the content of WWE SuperCard, the renowned collectible card-battling game that is Take-Two’s most financially successful free-to-play mobile offering.
- Launched NHL® SuperCard, an action-packed NHL collectible card-battling game that is available as a free download for iOS and Android devices.
- Battleborn™, which is currently in development for PlayStation 4, Xbox One and PC by the creators of Borderlands at Gearbox Software, is now planned for release on May 3, 2016.
- Announced that XCOM® 2, which is the sequel to the Game of the Year award-winning strategy title XCOM: Enemy Unknown and is currently in development at Firaxis Games, is planned for release on February 5, 2016 for PC.
- Announced that Mafia® III, the next installment in 2K’s successful organized crime series, is currently in development for Xbox One, PlayStation 4 and PC at Hangar 13, 2K’s new development studio. Mafia III is planned for release during calendar 2016 (fiscal year 2017).
lastly, we also get a look at the release windows of the Take-two’s games that have been already announced, with the relevant detail that Battleborn has been delayed to May 3rd, 2016.