Sales top 235 million units to date
In this series, we will look at the trends impacting the long-term performance of Take-Two Interactive Software (TTWO). This series details the important games and franchises of the company, as well as the key drivers for the gaming industry.
Take-Two Interactive’s video game Grand Theft Auto V (or GTA V) was released in November 2014, for Japan-based (DXJ) Sony’s (SNE) PS4 and Microsoft’s (MSFT) Xbox One. It was hugely popular among gamers in the 2014 holiday season.
Grand Theft Auto V has sold over 65 million units globally and across all platforms. The game also entered the Guinness Book of World Records as the fastest video game to gross $1 billion. It also earned the record for the “Highest revenue generated by an entertainment product in 24 hours.”
It is also the fifth-largest selling game in 2015. Activision’s (ATVI) Call of Duty: Black Ops 3 was the biggest-selling game in 2015. According to Take-Two Interactive, the GTA franchise has sold over 235 million units globally.
Grand Theft drives revenues in fiscal 4Q16
In fiscal 4Q16, Take-Two Interactive reported revenues of $342.5 million, compared to $427.7 million in fiscal 4Q15. According to the CFO of Take-Two Interactive, Lainie Goldstein, the firm “had benefited from the release of Evolve and continued sales of a more extensive holiday release slate” in fiscal 4Q15.
Driven by the sales of Grand Theft Auto V and Grand Theft Auto Online, the company’s fiscal 4Q16 results exceeded the outlook range of $260 million–$310 million. TTWO’s NBA 2K16 also exceeded expectations in terms of revenues.
The next article talks about the diverse portfolio of Take-Two Interactive.