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Take-Two's Revenue Plummets YoY, Holiday Season Looking Strong - News

by William D'Angelo , posted on 30 October 2014 / 17,567 Views

Take-Two has released its quarterly report for the quarter ending September 30, 2014. Non-GAAP revenue plummeted to $135.4 million, from $1.27 billion during the same period a year ago. However, Grand Theft Auto V launched with one of the biggest openings for a game in history a year ago. Non-GAAP profits don't look that good either. Take-Two posted a loss of $35.4 million, down from a profit of $325.6 million.

However, if you look at GAAP sales it does not include sales from Grand Theft Auto V a year ago. On a GAAP basis revenue decreased 15 percent to $126.3 million. GAAP losses did decrease to $41.4 million, from $124.1 million a year ago.

"Our second quarter results exceeded expectations, driven by strong catalog sales and continued growth in digitally-delivered revenue from recurrent consumer spending,” said Take-Two CEO Strauss Zelnick.

"With the successful launches of NBA 2K15, Borderlands: The Pre-Sequel, Sid Meier’s Civilization: Beyond Earth,  and WWE 2K15, our third quarter and holiday season is off to a great start, and there is tremendous anticipation for our upcoming releases, including Grand Theft Auto V for PlayStation 4, Xbox One and PC, as well as Evolve  – the only title in history to win Game of Show honors at both E3 and Gamescom in the same year."

"As a result of our better-than-expected results, strong current business trends and positive outlook, we are raising our revenue and earnings expectations for the full-year. Fiscal 2015 is poised to be one of our strongest years ever and we are well-positioned for continued success."

Take-Two has revised its prediction for the full fiscal year. For the full year Take-Two expects revenue to be between $1.4 billion and $1.5 billion, an increase from $1.35 billion and $1.45 billion.

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A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel dedicated to gaming Let's Plays and tutorials. Outside, in the real world, he has a passion for the outdoors which includes everything from hiking to having received his B.A. in Environmental Studies. You can contact the author at wdangelo@vgchartz.com or on Twitter @TrunksWD.


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3 Comments
Yafea (on 30 October 2014)

GTA 5 remastered is coming to save the day. It was expected to have a decline from last year breaking records numbers. I just can't wait when they announce another Red Dead game.

  • +1
andrewclear Yafea (on 30 October 2014)

Yeah, I can't wait for another Red Dead as well. I loved that more than the past 2 GTA's.

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andrewclear (on 30 October 2014)

Quit holding all your games til the last half of the year, and your sales would look better....

But, no shock that Take Two is up and down, That is just how the industry works. You spend a lot of money, for a few years to make a game, and only make a profit off of that expenditure for a few months (with some titles having better legs) after it is released. Then it is back to spending money for years, to make a ton in a few months.

Crazy rollercoaster ride there.

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