Take-Two has released its quarterly report for the quarter ending September 30, 2014. Non-GAAP revenue plummeted to $135.4 million, from $1.27 billion during the same period a year ago. However, GTA V launched with one of the biggest openings for a videogame in history a year ago. Non-GAAP gains don’t look that good either. Take-Two posted a loss of $35.4 million, down from a gain of $325.6 million.
However, if you look at GAAP sales it does not include sales from GTA V a year ago. On a GAAP basis revenue decreased 15 percent to $126.3 million. GAAP losses did decrease to $41.4 million, from $124.1 million a year ago.
“Our second quarter results exceeded expectations, driven by strong catalog sales and continued growth in onlinely-delivered revenue from recurrent consumer spending,” said Take-Two CEO Strauss Zelnick.
“With the successful launches of NBA 2K15, Borderlands: The Pre-Sequel, Sid Meier’s Civilization: Beyond Earth, and WWE 2K15, our third quarter and holiday season is off to a awesome start, and there is tremendous anticipation for our upcoming releases, including GTA V for PlayStation 4, XBox One and PC, as well as Evolve – the only title in history to win Game of Show honors at both E3 and Gamescom in the same year.”
“As a result of our better-than-expected results, strong current business trends and positive outlook, we are raising our revenue and earnings expectations for the full-year. Fiscal 2015 is poised to be one of our strongest years ever and we are well-positioned for continued success.”
Take-Two has revised its prediction for the full fiscal year. For the full year Take-Two expects revenue to be between $1.4 billion and $1.5 billion, an increase from $1.35 billion and $1.45 billion.
A life-long and avid videogamer, William D’Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel dedicated to gaming Let’s Plays and guides. Outside, in the real world, he has a passion for the outdoors which includes everything from hiking to having received his B.A. in Environmental Studies. You can contact the author at firstname.lastname@example.org or on Twitter @TrunksWD.
Full Article – http://www.vgchartz.com/article/252059/take-twos-revenue-plummets-yoy-holiday-season-looking-strong/