Bottom line: Take-Two Interactive has had a stellar latest quarter with revenue increasing by 74 percent YoY to $859 million. While most of its newer titles like Borderlands 3, NBA 2K20 and WWE 2K showed strong performances, GTA V continued to be the publisher’s cash cow as it managed to sell another five million units since May this year.
Rockstar’s massively popular and profitable GTA V never expanded on its single-player story (and it doesn’t look like it will), disappointingly. However, the game’s online mode has been anything but, especially for Take-Two Interactive, which continues to generate handsome revenue from the title’s sales as well as in-game spending from its online component.
“Grand Theft Auto Online and Grand Theft Auto V once again exceeded our expectations, delivering the best quarter yet with respect to daily, weekly and monthly active users and our best summer ever in terms of new online users and new users overall,” said Take-Two CEO Strauss Zelnick, adding that “recurrent consumer spending on Grand Theft Auto Online grew 23% to a new record, driven by the July release of the Diamond Casino & Resort update.”
In its latest Q2 report, the publisher noted sales figures for multiple games, including Borderlands 3, which went up from 5 million sales in its first five days to 7 million, while NBA 2K20 crossed the 6 million mark.
Red Dead Redemption 2, which was just released on PC, albeit in a state as stable as the portrayal of the Wild West, reached 26.5 million sales since it arrived on consoles over a year ago.
Even though the game has got off to a rocky start on PC and lacks ray tracing, it still offers breathtaking visuals and is expected to see sales figures climb as issues get ironed out, and the title hits more PC storefronts later this year.
Take-Two mentioned The Outer Worlds as well, which is off to a good start and is “exceeding expectations” of the company. The first-person RPG is also arriving on the Nintendo Switch early next year.
Due to “better-than-expected” operating results for this quarter, Zelnick said the publisher had raised its operating outlook for FY2020.
“Looking ahead, we have the strongest development pipeline in our history, we’re continuing to grow our portfolio with the highest-quality entertainment experiences including sequels for our biggest franchises, as well as exciting new IP.”