Take-Two digital revenue rises 128 percent
Grand Theft Auto parent publisher's digital business makes up 52 percent of all revenue; company posts overall loss of $47.1 million.
Take-Two's digital business is booming. The company today reported earnings for the quarter ended June 30, revealing revenue from digitally delivered content grew 128 percent year-over-year and accounted for a record 52 percent of net revenue.
This was driven by offerings, including full-game downloads and add-on content, for Borderlands 2, the Grand Theft Auto franchise, NBA 2K13, and BioShock Infinite.
Overall, Take-Two net revenue was $144.3 million for the quarter, compared to $226.1 million last year. The company posted a loss of $47.1 million for the period, better than the loss of $98.8 million it took last year.
The company pointed out that the same quarter last year benefited from the release of Max Payne 3 and Spec Ops: The Line.
Take-Two's loss includes an impairment of capitalized software development cost related to a 2K title currently in development of $29.6 million, though this game was not specified. As of June 30, Take-Two had cash and cash equivalents of $646.3 million.
The biggest contributors to Take-Two's bottom line for the quarter were Borderlands 2, NBA 2K13, Grand Theft Auto IV, and BioShock Infinite. Catalog sales made up 60 percent of net revenue, led by the Borderlands franchise, the GTA franchise, and Red Dead Redemption.
"Our better-than-expected first quarter results demonstrate that the market remains strong for the highest-quality interactive entertainment," Take-Two CEO Strauss Zelnick said in a statement. "We continue to benefit from robust demand for our recent genre-leading releases, iconic catalog titles and growing portfolio of innovative digitally delivered offerings."
Take-Two is currently holding a call to discuss the results and answer analyst and media questions.
RKGK | Official Release Date Gameplay Trailer Helldivers 2 - Warbond: Polar Patriots Unlocks Trailer | PS5 & PC Games V Rising - Official Launch Gameplay Trailer Goddess Of Victory: Nikke | Last Kingdom Full Story II Animated Cinematic Trailer DNF DUEL|Nen Master Official Character Reveal Trailer | Coming in Summer Starfield May Update Disney Dreamlight Valley – Thrills & Frills Update Trailer LEGO Fortnite | Star Wars Rebel Adventure Cinematic Trailer Apex Legends - Official Alter Legend Animated Reveal Trailer | "Based on a True Story" Batman: Arkham Shadow | Official Cinematic Teaser Trailer Mullet MadJack - Official Gameplay Trailer EARTH DEFENSE FORCE 6 - Official Release Date Reveal Trailer
Please enter your date of birth to view this video
By clicking 'enter', you agree to GameSpot's
Terms of Use and Privacy Policy
Got a news tip or want to contact us directly? Email news@gamespot.com
Join the conversation