Take-Two reported the results its first-quarter earnings for fiscal year 2017, which covers the period from April 1st to June 30th, 2016. The results are mostly positive.
Take-Two reported revenue of $311.6 million for 1Q 2017, compared to $275.3 million for 1Q 2016. They stated in a press release that Grand Theft Auto V, Grand Theft Auto Online, Battleborn, and NBA 2K16 contributed most to the increase in earnings. CEO Strauss Zelnick, however, noted in a conference call with investors that Battleborn did not perform as well as they expected.
Take-Two also increased its digital net revenue for 1Q 2017, pulling $172.1 million versus $154 million for 1Q 2016. They also saw gains in what they call “recurrent consumer spending”, which includes like DLC and virtual currency. That revenue was up 18 percent year-over-year, accounting for 31 percent of the company’s total net revenue. Grand Theft Auto Online had record bookings during the period, but Take Two declined to specify the exact amount the game generated.
Despite the revenue increases, Take-Two suffered a net loss for the quarter of $38.6 million. However, that is half the $67 million they lost during the same period last year.
The fact that Grand Theft Auto V still soldiers on speaks to the game’s dominance. The game still contributes significantly to Take-Two’s overall revenue three years after its release.
Take-Two also revealed that the console versions of X-COM 2 were slightly delayed. Their release dates have been extended to September 27th in North America and September 30th internationally. It also revealed that the Civilization franchise has sold more than 35 million units.
Finally, it also made a vague reference to Rockstar’s next projects. “Rockstar Games also is hard at work on some exciting future projects that will be revealed soon.”
