Video game publisher Take-Two Interactive reported strong results for its fourth quarter and fiscal year 2019 thanks, in large part, to the success of “NBA 2K 19,” “Red Dead Redemption 2,” and “Grand Theft Auto Online,” it said in an earnings release on Monday.
The company’s net revenue grew to $539 million in the fourth fiscal quarter, up from $450.3 million during the same time period last year. Recurrent consumer spending — which includes virtual currency, add-on content and in-game purchases — accounted for 54% of the total net revenue, Take-Two said. Meanwhile, digital revenue grew to $413.5 million, compared to $301.4 million in fiscal 2018.The largest revenue generators in the fiscal fourth quarter 2019 were “NBA 2K19,” “Grand Theft Auto Online” and “GTA V,” “Red Dead Redemption 2” and “Red Dead Online,” “Side Meier’s Civilization VI,” “Dragon City” and “Monster Legends,” and “WWE SuperCard” and “WWE 2K19.”
“Take-Two has the strongest development pipeline in its history, including sequels from our biggest franchises as well as exciting new IP,” said Strauss Zelnick, chairman and CEO of Take-Two. “In addition, we are actively investing in emerging opportunities such as private division, mobile games, esports, and geographic expansion that have the potential to be enormous drivers of growth. We are exceedingly well positioned to generate significant growth and margin expansion over the long-term.”
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Looking ahead, Take-Two expects net revenue to range from $485 to $535 million in its first fiscal quarter 2020, which ends on Jun. 30. Net income is expected to be between $74 and $86 million.
Take-Two recently announced that Gearbox Software’s action-RPG “Borderlands 3” will launch on Sept. 13. The popular franchise has sold more than 43 million units worldwide since 2009. Sequel “Borderlands 2” still brings in more than one million unique monthly users more than six years after its release, Take-Two said.