Take-Two Interactive released their third quarter earnings report. You may have noticed that we're talking more games finance lately with reports on Sega and Square Enix and Disney, if not, you may want to check those out as well.
Their net revenue grew 15% to $476.5 million, while their net operating income grew 72% to $291.0 million. Their third quarter ended strongly on December 31, 2016 and their fourth quarter predictions for March 31st currently stand at a range from $1.75 to $1.8 billion for net revenue with net income ranging from $108 to $117 million.
Essentially, things are good for Take-Two Interactive right now, and the company bases their success on the free content upgrades for Grand Theft Auto Online, the "highly anticipated launch of Red Dead Redemption 2,"the better than expected sales of Grand Theft Auto V, and the launch of several new titles including:
- Bully: Anniversary Edition for iOS and Android
- Sid Meier's Civilization VI for PC
- WWE 2K17 for PS4, PS3, Xbox One, and Xbox 360
- Mafia III for Xbox One, PS4, and PC
- NBA2KVR for HTC Vive, PS VR, and Oculus Rift
- WWE Super Card- Season 3 for iOS and Android
- Canival Games VR for HTC Vive
- NHL Supercard 2K17 for iOS and Android
It was a busy year for Take-Two's main publishers, Rockstar Games and 2K. The report given is just preliminary but it doesn't seem like there will be much change between the preliminary report and the 10-Q form report.