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: Aug 03, 2017 2:08 pm
Related Forum: Gaming Discussion

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