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Take-Two Interactive Start Off the Year Financially Strong

Take-Two Interactive have posted their results for the first fiscal quarter of the year and have revealed some strong results. Also revealing plans for the upcoming year, they look to continue their success.

In the first fiscal quarter of 2016, their net revenue grew 142% to $366.4 million, a rise from $151.6 million. New income increased to $34.2 million, which has risen from a net loss of $11.2 million the previous year.

“Our business continued its positive momentum during the fiscal first quarter, enabling Take-Two to deliver significant growth in revenue, Non-GAAP earnings and cash flow,” said Strauss Zelnick, Chairman and CEO of Take-Two. “These results were driven by strong consumer demand for Grand Theft Auto V, NBA 2K15 and an array of other titles, along with better-than-expected growth in recurrent consumer spending.”

Since April 1, 2015 they point out the achievements they have made:

  • Released Grand Theft Auto V and Grand Theft Auto V online onto PC selling over 54 million units across all formats.
  • Brought WWE gaming to PC, Android and iOS devices
  • Announced NBA 2K16
  • Revealed Stone Cold Steve Austin as the cover star of WWE 2K16 as well as the Terminator Pre-Order bonus.
  • The announcement of XCom 2 coming to the PC.
  • Announcement of the Rising Tide expansion pack for Sid Meier’s Civilisation: Beyond Earth
  • The announcement of Battleborn
  • The announced release of Mafia 3.

With these big released still performing strong and still showing popularity, things are looking up for the company. With a lot of their success coming from Grand Theft Auto V of course there is a question as to how long this can keep on, with the PC now out can Take-Two stay strong with their other releases too?

What are your thoughts on the success of Take-Two? Do you think it will continue? Let us know below.