Take-Two shares were down 4.4%, near 112, in morning trading on the stock market today. The game's publisher Take-Two Interactive says that the game has had "unparalleled longevity". According to Zelnick, the way the world and the industry are changing represents for the company something exciting as they have the opportunity to keep players engaged and increase the number of users of a game. GTAV exceeded Rockstar's expectations during the past fiscal quarter and remains its biggest contributor for recurring consumer spending. Great news for the many who are still playing the game.
The publishing outfit reported GAAP net revenue of $480.8m, with digitally delivered revenue growing eight per cent to $258.4m - that's 54 per cent of total revenue, for those keeping score.
Insofar as sales, or net bookings, the publisher actually earned 12% less than last year's Q3 due to the lack of big games such as Mafia III and Civilization VI, which both released in FY Q3'17. Its sales guidance for the current quarter and next fiscal year also disappointed investors.
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Unsurprisingly, Grand Theft Auto Online and Grand Theft Auto V were among the biggest contributors to Take-Two's cash flow, alongside National Basketball Association 2K18, WWE 2K18, LA Noire, Dragon City and Monster Legends. This highlights just how important of an anchor GTA Online and Take-Two's other service games can be for consistent, long-term earnings flow. Naturally catalog sales were driven by GTA V.
Take-Two has also revealed that Grand Theft Auto 5 was the No.3 best-selling title in the United States previous year based on the number of copies sold. Grand Theft Auto 5 sales and in-game digital purchases were also the biggest contributors to the publisher's overall revenue even though it had newer titles National Basketball Association 2K18 and WWE 2K18. Rockstar games will continue to support Grand Theft Auto Online with more new content going forward.
"During the holiday season, we benefited from high consumer demand for our offerings, enabling our Company to deliver another quarter of both strong Net Bookings and net cash provided by operating activities", said Strauss Zelnick, Chairman and CEO of Take-Two.