Another quarter, another Take-Two investor call, another sales milestone.
Elsewhere, it was announced that Red Dead Redemption 2 has been delayed to Spring 2018. Grand Theft Auto Online is a multiplayer sandbox that developer Rockstar consistently releases new content for on a regular basis. It contributed most to recurrent player spending and pushed up catalog title revenue to over 50% of the company's bookings.
Net income increased to $99.3 million, or $0.89 per diluted share, as compared to $46.4 million, or $0.48 per diluted share, for the year-ago period. Take-Two CEO Strauss Zelnick has also revealed that 75% of the games sold are physical discs and that newcomers to PlayStation 4 and Xbox One are the ones who are keeping the game in the charts. It accounts for the majority of revenue not only in the quarter but in the entire fiscal year.
Scotland retain Twickenham Sevens title
Failure to add the two points could have been costly had England been able to hit back, but Scotland finished the co ntest on top. It was a valuable way to end the day with a quarter-final berth against the U.S. awaiting the Aussies on Sunday at 7.58pm AEST.
Looking ahead, the publisher expects revenues to rise to somewhere in the region of $1.95 billion to $2.05 billion by the end of the next fiscal year on March 31, 2018.
"This outlaw epic set across the vast and unforgiving American heartland will be the first Rockstar game created from the ground up for the latest generation of console hardware, and some extra time is necessary to ensure that we can deliver the best experience possible for our fans". According to Zelnick, Take-Two made more money through microtransactions in "Grand Theft Auto Online" during their last fiscal year (April 1, 2016 - March 31, 2017) than ever before.
We didn't expect that the Red Dead Redemption delay would have effected their earnings, as the delay only came through yesterday and the game wasn't slated to hit until their 2018 fiscal year anyhow.