Take-Two Expects “Record Year” with Red Dead Redemption 2

4.4
Today, Take-Two Interactive Software announced its financial results for the first quarter of fiscal year 2018, related to the period between April 1st and June 30th, 2017.

Below you can read the main revenue and profit figures, with results that are defined “strong” by the press release.

GAAP Net revenue grew 34% to $418.2 million.
GAAP Net income increased to $0.56 per diluted share.
Net Sales grew 28% to $348.3 million.

CEO Strauss Zelnick accompanied the press release with a comment. Interestingly, Zelnick mentions that the company expects fiscal year 2019 (from April 1st, 2018, to March 31st, 2019), to be a record year for sales due to the launch of Red Dead Redemption 2 by Rockstar Games and an unannounced “highly anticipated new title” from one of 2K Games’ largest franchises.

At the moment we have no information on the nature of this game, but we’ll probably hear more in the next few months. For the record, later in the conference call Zelnick clarified upon being asked that Borderlands is indeed to be considered a 2K Games franchise, but he did not confirm that Borderlands 3 is the game mentioned here.

“Fiscal 2018 is off to an excellent start, with our business’s positive momentum continuing to exceed our expectations in the first quarter. We delivered growth in both Net Sales and net revenue, as well as margin expansion. Our results were led by the ongoing extraordinary performance of Grand Theft Auto V and Grand Theft Auto Online, strong demand for NBA 2K17 – which is now our highest-selling sports title ever – and increased recurrent consumer spending.”

“As a result of our stronger-than-expected first quarter operating results and improved outlook for the remainder of the year, we are increasing our fiscal 2018 outlook for Net Sales and net cash provided by operating activities. Looking ahead, we expect fiscal 2019 to be a record year for Net Sales and net cash provided by operating activities led by the launches of Rockstar Games’ Red Dead Redemption 2 and a highly anticipated new title from one of 2K’s biggest franchises. We have a robust development pipeline and are better positioned than ever for long-term growth and margin expansion.”


Posted:
Related Forum: Gaming Discussion

Source: http://www.dualshockers.com/red-dead-redemption-2-take-two-record-year/

Related Articles

Comments

"Take-Two Expects “Record Year” with Red Dead Redemption 2" :: Login/Create an Account :: 12 comments

If you would like to post a comment please signin to your account or register for an account.

k3rryPosted:

So excited for RDR2, played the first one a lot with friends so it's gonna be fun to kinda go back in time.

SilkyPosted:

I loved the first one and can't wait for this one either tbh.

XboxPosted:

I did enjoy the first one so there is no doubt I will be getting the second one when it comes out and enjoying plenty of hours on it messing around with my bros.

uwuPosted:

It's going to be one hell of a game, that's for sure but GTA V will still have a hold of its place above RDR2. I'm gonna get it though.

MickersPosted:

Never got into red dead, not my type of game at all. Good luck for them to break records.

gecPosted:

Im so excited for this game, gonna be a breakthrough for sure

nolanberollinPosted:

Hopefully it's better than the first game, want more player interactions

EchoPosted:

RDR2 is going to be great, Big demand for it so it doesn't surprise me all that much.
Won't be as big as GTAV but it'll be big for sure.

TOXICPosted:

Not surprised at all, gonna be epic asf would be great to see Red Dead Redemption 2 overtake GTA V in sales, hahaha doubt it will happen though, but going to be a very very popular game indeed some excited for it.

lolohnoeszszPosted:

kamilca ofcourse they do this game is going to be one of the most bought i reckon
Unlikely since GTA V still holds this record plus the other records as well.

Sadly this game will fall short because of it being console exclusive. It's like people forget about Steam and its daily 7M+ active users which is more than consoles.


Latest Downloads

Latest Tutorials