Take-Two’s financial report better than expected, reveals Rockstar will announce new games “soon”
Game publisher Take-Two Interactive may not have released a huge number of major titles last year, but the company still posted better-than-expected earnings results, thanks to the continuing success of Grand Theft Auto V and the launch of XCOM 2. The report also revealed that developer Rockstar Games was working on some new projects.
For the fiscal year 2016, Take-Two’s GAAP (generally accepted accounting practices) net revenue was $1.414 billion, an increase of 31 percent from the previous year. In the fourth quarter, net revenue was up to $377.2 million from $300.1 million.
The publisher’s non-GAAP figures were down slightly this year, but they still managed to beat expectations. Revenue for Q4 dropped to $342.5 million from $427.7 million, and for the whole year it was down to $1.561 billion from $1.669 billion. Profit for the year dropped from $219.2 million to £218.3 million.
“Fiscal 2016 marked the third consecutive year of stronger-than-expected Non-GAAP revenues and profits for Take-Two,” said company CEO Strauss Zelnick in a statement. “Our results were driven by the continued extraordinary performance of Grand Theft Auto V, ongoing momentum in our NBA 2K and WWE 2K series, the successful launch of XCOM 2, and our highest-ever revenue from recurrent consumer spending.”
Some particularly good news for the company was that revenue from digital content increased by 36 percent to an all-time high of $835.2 million.
In one part of the report, Take-Two said that Rockstar Games, the company behind the Grand Theft Auto series, is working on “exciting future projects that will be revealed soon.”
There were no further details on these titles, but after what appeared to be a map from the game leaked online in August, there’s a good chance we may see Red Dead Redemption 2 unveiled at E3. Other possibilities include Grand Theft Auto 6, which is reportedly already in development, a second LA Noir, or perhaps even a brand new IP.