Take-Two Earnings: GTA 5 Passes 29 Million Copies Sold
Take-Two’s quarterly financials are strong, with $1.27 billion in revenue and $325.6 million in net income. These numbers, pushed primarily by the release of GTA 5, are significantly larger than the numbers from Q2 FY2013 ($288 million in revenue and $10.2 million in income).
During the investor call, Take-Two CEO Strauss Zelnick confirmed that over 29 million copies of Grand Theft Auto 5 have been sold-in. This makes GTA 5 the best-selling game in the franchise, as it surpasses Grand Theft Auto 4′s lifetime sales.
From CEO Strauss Zelnick: (emphasis added)
“During the fiscal second quarter, we delivered record Non-GAAP results driven by the unprecedented success of Rockstar Games’ Grand Theft Auto V .The title received stellar reviews, shattered entertainment industry records, and has already sold-in nearly 29 million units to date. The extraordinary success of Grand Theft Auto V illustrates the positive momentum in our business and consumers’ enduring appetite for the highest-quality interactive entertainment.
“Take-Two has an extensive development pipeline of groundbreaking new intellectual properties and exciting titles from our proven franchises, along with digitally-delivered offerings to complement our core business. We currently have more than ten unique titles planned for next-generation consoles, including multiple releases slated for fiscal 2015. As a result, I am confident that we will be able to achieve Non-GAAP profitability in fiscal 2015 and every year for the foreseeable future.”
Grand Theft Auto is pushing numbers up all over the place for Take-Two, as the company is “…increasing its financial outlook for fiscal year 2014 to reflect its strong fiscal second quarter results and positive outlook for the remainder of the year.” (see numbers below)