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Take-Two's financial report better than expected, reveals Rockstar will announce new games "soon"

By midian182 · 6 replies
May 19, 2016
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  1. Game publisher Take-Two Interactive may not have released a huge number of major titles last year, but the company still posted better-than-expected earnings results, thanks to the continuing success of Grand Theft Auto V and the launch of XCOM 2. The report also revealed that developer Rockstar Games was working on some new projects.

    For the fiscal year 2016, Take-Two’s GAAP (generally accepted accounting practices) net revenue was $1.414 billion, an increase of 31 percent from the previous year. In the fourth quarter, net revenue was up to $377.2 million from $300.1 million.

    The publisher’s non-GAAP figures were down slightly this year, but they still managed to beat expectations. Revenue for Q4 dropped to $342.5 million from $427.7 million, and for the whole year it was down to $1.561 billion from $1.669 billion. Profit for the year dropped from $219.2 million to £218.3 million.

    “Fiscal 2016 marked the third consecutive year of stronger-than-expected Non-GAAP revenues and profits for Take-Two,” said company CEO Strauss Zelnick in a statement. “Our results were driven by the continued extraordinary performance of Grand Theft Auto V, ongoing momentum in our NBA 2K and WWE 2K series, the successful launch of XCOM 2, and our highest-ever revenue from recurrent consumer spending.”

    Some particularly good news for the company was that revenue from digital content increased by 36 percent to an all-time high of $835.2 million.

    In one part of the report, Take-Two said that Rockstar Games, the company behind the Grand Theft Auto series, is working on “exciting future projects that will be revealed soon.”

    There were no further details on these titles, but after what appeared to be a map from the game leaked online in April, there’s a good chance we may see Red Dead Redemption 2 unveiled at E3. Other possibilities include Grand Theft Auto 6, which is reportedly already in development, a second LA Noir, or perhaps even a brand new IP.

    Permalink to story.

    Last edited by a moderator: Oct 16, 2016
  2. GAAP (generally accepted accounting practices) VS non-GAAP figures = fuzzy math? err sorry..."creative" accounting??
    Uncle Al and wastedkill like this.
  3. wastedkill

    wastedkill TS Evangelist Posts: 1,423   +350

    Not just that but you're mixing up your dollar $ & Pound £ Signs Baha, Did someone forget to proof read? ;)
    Uncle Al and noel24 like this.
  4. Uncle Al

    Uncle Al TS Evangelist Posts: 5,132   +3,553

    I'm waiting to see a comparison between their profit line and customer satisfaction line ..... I suspect there will be quite a gap (Game Anticipated Pissed-off-ed-ness)
    Humza and noel24 like this.
  5. Sniped_Ash

    Sniped_Ash TS Maniac Posts: 253   +108

    As someone who primarily plays games on the PC that RDR makes me sad
  6. thelatestmodel

    thelatestmodel TS Addict Posts: 144   +63

    Then you'll be happy to hear that Rockstar are rumored to be announcing the sequel at E3. I can't imagine there not being a PC version.

    IAMTHESTIG TS Evangelist Posts: 1,680   +773

    I would like to see a RDR2 on PC, but I would like another GTA more. I really like 5, they did a fantastic job with it on PC (apart from the boring vehicle handling physics). I would love to see previous cities make a comeback all in the same game. Either way, good VR support should be a focus.

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