Today, Take-Two Interactive Software announced its financial results for the first quarter of fiscal year 2018, which matches the period between April 1st and June 30th.
Below you can find all the revenue and income figures directly from the publisher. They’re defined as “exceeding expectations.”
- GAAP net revenue was $388.0 million
- GAAP net income increased to $0.62 per diluted share
- Net Bookings were $288.3 million
- Company repurchased 1.60 million shares of its common stock for $153.5 million.
Chief Executive Officer Strauss Zelnick accompanied followed the announcement up with a comment. Zelnick mentions the excitement for Rockstar’s massively-anticipated Red Dead Redemption 2, and announces that Grand Theft Auto V is close to achieving 100 million units sold-in to retailers. Just in May, we heard that the game had passed 95 million units.
“Fiscal 2019 is off to a solid start, with first quarter operating results that exceeded our expectations. This performance was driven by better-than-expected recurrent consumer spending on Grand Theft Auto Online and NBA 2K18, as well as robust ongoing demand for Grand Theft Auto V, which is now approaching 100 million units sold-in to date. Accordingly, we are increasing our operating outlook for fiscal year 2019.
“We are incredibly excited about the October 26th launch of Rockstar Games’ Red Dead Redemption 2, as well as the upcoming releases of NBA 2K19 – which marks the 20th anniversary of the series and the 30th anniversary of the Visual Concepts development team – and WWE 2K19. Fiscal 2019 is poised to be another year of profitable growth for Take-Two, and we expect to deliver record operating results. Looking ahead, we have a strong development pipeline across our labels and are exceedingly well positioned for long-term growth and margin expansion.”
The press release included a detailed explanation of the quarterly results.
“During fiscal first quarter 2019, total Net Bookings were $288.3 million, as compared to $348.3 million during last year’s fiscal first quarter, which had benefitted from the release of the Gunrunning update for Grand Theft Auto Online. Net Bookings from recurrent consumer spending accounted for 63% of total Net Bookings, as compared to 59% in last year’s fiscal first quarter. The largest contributors to Net Bookings in fiscal first quarter 2019 were Grand Theft Auto Online and Grand Theft Auto V, NBA 2K18, Dragon City and Monster Legends, and WWE SuperCard and WWE 2K18.
Catalog accounted for $282.3 million of Net Bookings led by Grand Theft Auto, NBA 2K, and Dragon City and Monster Legends.
Digitally-delivered Net Bookings were $252.8 million, as compared to $280.9 million in last year’s fiscal first quarter, and accounted for 88% of total Net Bookings, as compared to 81% in last year’s fiscal first quarter. The largest contributors to digitally-delivered Net Bookings in fiscal first quarter 2019 were Grand Theft Auto Online and Grand Theft Auto V, NBA 2K18, Monster Legends and Dragon City, and WWE SuperCard and WWE 2K18.”
We then get a handy list of all the achievement for the quarter by Take-Two’s labels, including Rockstar and 2K games.
Take-Two:
- Repurchased 1.60 million shares of its common stock for $153.5 million.
Rockstar Games:
- Released Grand Theft Auto V: Premium Online Edition for PlayStation® 4, Xbox One and Windows PC. The Premium Online Edition includes the complete Grand Theft Auto V story experience, the ever-evolving world of Grand Theft Auto Online, and all existing gameplay upgrades and content. Purchasers also receive the Criminal Enterprise Starter Pack that gives players access to a huge range of content including properties, vehicles, weapons and more valued at over GTA$10,000,000 plus GTA$1,000,000 Bonus Cash.
- Released new free content updates for Grand Theft Auto Online, including:
- GTA Online: After Hours, which enables players to partner with legendary club impresario Tony Prince to open and operate a top-shelf nightclub featuring world-class DJ acts and use that club as a front for a network of criminal enterprises.
- Two new modes for The Southern San Andreas Super Sport Series update: Weeny Issi Classic Races and Target Assault Races.
- Seven new Transform Races, including Canal Crosser, Size Matters, the Grotti Circuit, Plane and Simple, Evolution, Tug Life and Twister II.
- Madrazo Dispatch Services, a new set of assassination-based Contact Missions.
- Trap Door mode, where teams strapped with an arsenal of weaponry compete on a rapidly shrinking floating platform high above the Pacific.
- New Special Vehicle Circuit Races, including Imponte Deluxo Races, Ocelot Stromberg Races and Mammoth Thruster Races.
- Announced details for the Special Edition and Ultimate Edition of Red Dead Redemption 2, along with extra pre-order bonuses for all three versions and a unique assemblage of real-world collectibles inspired by the game.
2K:
- Announced that NBA 2K18 has now sold-in more than 10 million units, setting a new record for the franchise. Since its inception in 1999, the NBA 2K franchise has sold-in more than 80 million units worldwide and is the top-rated and top-selling NBA video game simulation series of the past 17 years*.
- Announced that they will be the exclusive publisher of Saber Interactive’s upcoming arcade-action sports game – NBA 2K Playgrounds 2. This over-the-top, two-on-two basketball experience will complement 2K’s top-selling NBA 2K series and expand the label’s footprint in the basketball video game space. The title will be released this fall for Xbox One, PlayStation 4, Nintendo Switch™ and Windows PC.
- Announced that Milwaukee Bucks standout and two-time NBA All-Star Giannis Antetokounmpo will be the cover athlete of the NBA 2K19 Standard Edition, the next iteration of our top-rated and top-selling NBA video game simulation series for the past 17 years, which will launch on September 11, 2018 for PlayStation 4, Xbox One, Nintendo Switch and Windows PC. Players who pre-order the NBA 2K19 Standard Edition receive bonus digital items, including virtual currency and MyTEAM cards. Also, 2K will release the NBA 2K19 20th Anniversary Edition, featuring three-time NBA Champion, four-time NBA MVP and avid NBA 2K gamer LeBron James on the cover. In addition to exclusive James-themed content and items, fans who purchase the NBA 2K19 20th Anniversary Edition will receive the game four days early, beginning on September 7, 2018. Players looking to get a head start on NBA 2K19’s MyCAREER can download the all-new NBA 2K19: The Prelude beginning on August 31, 2018 available on Xbox One and PlayStation 4.
- Announced AJ Styles as the cover Superstar for WWE 2K19, the next release from our flagship WWE video game franchise, which will launch on October 9, 2018 for PlayStation 4, Xbox One and Windows PC. 2K also disclosed plans for the WWE 2K19 Million Dollar Challenge, where eligible entrants can participate in an international contest in which the finalist will compete one-on-one in WWE 2K19 against AJ Styles for the chance to win $1 million. Players who pre-order WWE 2K19 at participating retailers will receive two playable characters as a bonus, including “Rowdy” Ronda Rousey® and former WWE Champion Rey Mysterio®. In addition, players who purchase the WWE 2K19 Deluxe Edition or WWE 2K19 Wooooo! Edition (featuring WWE Hall of Famer Ric Flair) from participating retailers will receive Early Access to their game copies and in-game bonuses beginning four days early on October 5, 2018.
- Announced that Carnival Games®, the next entry in the popular franchise that has sold-in over 9.5 million units worldwide, is coming to Nintendo Switch on November 6, 2018. Built from the ground up for Nintendo Switch, Carnival Games can be played alone or with up to four players simultaneously, leveraging the unique accessibility of the console’s Joy-Con controllers. The game features 20 exciting and re-imagined games in four unique alleys that can be played at home or on the go, alone or with family and friends.
Private Division:
- Announced that Kerbal Space Program will be released on Tencent’s WeGame distribution platform as a premium PC game at a date to be determined.
Last, but not least, here is the slate of upcoming games announcd by the publisher.
If you want to compare today’s results with historical data, you can check out our dedicated article from May, showing the announcement for the past fiscal year.
If you want to pre-order Red Dead Redemption 2, you can already do so on Amazon.
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