Publishing giant Take-Two's new revenue grew by 75 per cent year-on-year to hit a cool $857.8m.
In the company's financial report for the three months ending September 30th, Take-Two reported that on-going consumer spending rose 32 per cent year-on-year, accounting for 37 per cent of total net revenue. This was the result of titles including Borderlands 3, NBA 2K titles and Grand Theft Auto V and Online.
Digital revenue was the bulk of this figure - 72 per cent - standing at $615.8m following an increase of 72 per cent.
“Our positive momentum continued in the second quarter, enabling our Company to generate operating results that significantly exceeded our expectations,” Take-Two boss Strauss Zelnick said.“
We delivered strong Net Bookings, cash flow and earnings growth, fueled by the performance of NBA 2K, Borderlands 3, Grand Theft Auto Online and Grand Theft Auto V, and Red Dead Redemption 2 and Red Dead Online. Once again, our strategy of creating the highest-quality entertainment in the industry translated into outstanding results.
“As a result of our better-than-expected second quarter operating results, we are once again raising our operating outlook for fiscal 2020. The third quarter is off to a solid start with the launches of The Outer Worlds, Red Dead Redemption 2 for PC and WWE 2K20, and we will bolster our holiday line-up with offerings for Google Stadia and Sid Meier’s Civilization VI for PlayStation 4 and Xbox One. Throughout the fiscal year, we will continue to support our titles with experiences designed to captivate audiences and drive ongoing engagement, including new content for Grand Theft Auto Online and Red Dead Online.
“Looking ahead, Take-Two has the strongest development pipeline in its history, including sequels from our biggest franchises as well as exciting new IP. We are actively investing in emerging markets, platforms and business models, and are exceedingly well positioned to capitalise on the positive trends in our industry and to generate growth and margin expansion over the long-term.”