Take-Two Interactive , parent company of Rocstar Games and 2K Games , reported the results for the first fiscal quarter of 2018, which ended June 30, 2017. Despite significant new releases during the period, revenue has been characterized as a continuation of the success of Grand Theft Auto V and its multiplayer component, Grand Theft Auto Online .
Net income in the quarter was $418.2 million, up 34% year over year. Take-Two has announced its biggest contributors, including GTA V , NBA 2K17 (the company's best-selling sports game ever), Civilization VI , WWE 2K17 , mobile game WWE SuperCard , and Mafia III . Regarding GTA in particular , CEO Strauss Zelnick praised the game's "continuing outstanding performance", which remains one of the industry's best-selling games nearly four years after its initial release. Ongoing support programs are planned for the game and "record results" are expected for another year.
Recurring consumer spending, a broad era that includes DLC, microtransactions and virtual currency, increased 72% and represented 41% of the company's total net income, while digital net income increased 56% to $268.2 million. It is an impressive number considering that it is not a factor in the sales of digital games.
Take-Two also upgraded its outlook on net sales for fiscal 2018, which ended March 31, 2018. Red Dead Redemption 2 is expected to be released in spring 2018, but during fiscal year 2019, Zelnick announced that for the 2019 fiscal anniversary (running from April 1, 2018 to March 31, 2019), "the highly anticipated new title in one of the newest iteration franchises" applied. This game is believed to be Borderlands , but this is yet to be confirmed.
The company's release for the current year reveals that the Nintendo Switch version of NBA 2K17 will only be released as digital titles, with a physical release coming sometime after its September 19 release .
Take-Two is currently holding an earnings call with investors and analysts. If the company shares new information, we will inform you here again. Click to buy GTA V, NBA 2K18, WWE 2K18 or Civilization VI
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