The lights are on
Take-Two has reported its financial results for the year ending March 31, 2014, and the results are extremely positive. Off the huge success of Grand Theft Auto V, the company nearly doubled net revenue, posting $2.351 billion (up 94 percent).
Net income was up from a loss of $29 million to a gain of $361.6 million. This is a new record for the company.
In the fourth quarter, Take-Two’s biggest performers were NBA 2K14, GTA V, GTA Online, Borderlands 2, and BioShock Infinite. Take-Two also notes that revenue from digital sales is up nearly 51 percent over last year to $122.3 million, with the GTA back catalog leading the way.
Take-Two is anticipating a positive fiscal year ending March 31, 2015, but not at the same heights as this last one. The company is expecting between $1.35 billion and $1.45 billion net revenue.
A financial earnings call with more detail is starting soon. We’ll have more information shortly.
Our TakeGrand Theft Auto is Take-Two’s largest gun, and once that tail dips lower, I expect we’ll hear about DLC and a new-gen version. The company is smart about riding the first wave as long as it can, so don’t expect them to move on more GTA until necessary.