Published in Gaming

Grand theft auto maker makes a killing

by on19 May 2015

Take-Two Interactive strikes success

Grand theft auto maker Take-Two Interactive is reporting quarterly profit handily beat up the cocaine nose job of Wall Street estimates.

The outfit was helped by strong digital sales of its video games and the continued success of the "Grand Theft Auto V" and "NBA 2K15" titles.

Take-Two Interactive Software also said it was increasing its stock buyback plan to 10 million shares.

Digital sales made up 48 percent of Take-Two Interactive's sales in the fourth quarter ended March 31, up from 43 percent a year earlier.

Revenue jumped 83.5 percent to $427.7 million. Adjusted net income increased to $54.3 million, or 49 cents per share, from $21.5 million, or 21 cents per share.

Analysts on average expected revenue of $458.9 million.

Physical retail sales of "Grand Theft Auto V" ranked among NPD Group's top five games in February and March. "NBA 2K15" ranked among the research firm's top 10 in those months.

"Grand Theft Auto V" has sold nearly 52 million units across platforms since its launch in September 2013, Take Two Interactive said.

Chief Executive Strauss Zelnick said the majority of revenue in the first quarter is expected to come from 'Grand Theft Auto V', 'Grand Theft Auto V for PC' and 'Grand Theft Auto Online',"

Take-Two said it expects adjusted revenue of $325 million-$350 million and an adjusted profit of 25-35 cents per share for the first quarter.

The company also forecast adjusted revenue of $1.30 billion-$1.40 billion and adjusted profit of 75 cents-$1 per share for the full year.


Last modified on 19 May 2015
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