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Take-Two Closes Fiscal Year Slightly In The Red, But With Greatly Increased Revenue
Take-Two continues to lean heavily on Grand Theft Auto and its annual releases, as sales jumped 31 percent in the year ended March 31, 2016. The company reports that Grand Theft Auto V, GTA Online, NBA 2K16, WWE 2K16, and XCOM 2 were major drivers during the year.
While the publisher also saw improvement to its bottom line, it finished the year in the red in the amount of $8,302. This is a much better picture than last year’s closing loss of $279,470. Take-Two anticipates revenues to rise again in the current year (ending March 31, 2017), with a close between $1.5 billion and $1.6 billion.
In the company’s fourth fiscal quarter, recurring customer purchases (in-app, virtual currency, or DLC content) grew by 15 percent (non-GAAP) to a total of 37 percent of all non-GAAP revenue. Digitally delivered content (full-game and add-on) grew 12 percent.
Of note, Take-Two mentions that Rockstar’s in-development projects will be announced “soon.” That’s no guarantee of a specific time frame, but it implies the current fiscal year for a reveal.
As for the rest of Take-Two’s announced lineup, four titles are due this fall: NBA 2K17, WWE 2K17, Mafia III, and Civilization VI. Beyond that, we’ll have to wait until E3 to find out more.
Our Take
Take-Two is pulling itself out of a sea of red ink, and if Rockstar is getting ready to reveal a new game, things could be looking very good for the current fiscal year. The publisher usually plays things closer to the vest than others, so it’s hard to get a complete picture, as we don’t have any idea of what to expect even through the end of this fiscal year.
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