News

Take-Two generates net revenues of $841.1 million Q2 FY21

"Our positive momentum continued in the fiscal second quarter with operating results that significantly exceeded our expectations"

Take-Two generates net revenues of  $841.1 million Q2 FY21

Take-Two Interactive saw a slight drop year-on-year in net revenue as it generated $841.1 million in Q2 FY21.

Last year, for the same period, the company had earned $857.8 million. However, net bookings grew year-on-year to $957.5 million. Furthermore, recurrent consumer spending – virtual currency, in-game content and DLC – was up 56 per cent year-on-year.

Moreover, recurrent consumer spending accounted for 59 per cent of the total GAAP in Take-Two's second-quarter earnings. Furthermore, GAAP net income did grow 38 per cent year-on-year to $99.3 million.

The company has claimed its largest contributors for quarter two were NBA 2K20 and 2K21, Grand Theft Auto Online and GTA V. Furthermore, Red Dead Redemption 2 and its online counterpart performed well also.

However, the American games giant did attribute Social Point's mobile games as a contributing factor too. Currently, Take-Two has 21 games planned for mobile devices.

Positive result

"Our positive momentum continued in the fiscal second quarter with operating results that significantly exceeded our expectations," said Strauss Zelnick, Chairman and CEO of Take-Two.

"Our terrific results were highlighted by the outperformance of NBA 2K, PGA TOUR 2K21, and the Mafia: Definitive Editions and Mafia: Trilogy, reflecting our ability to deliver consistently the highest quality entertainment experiences to consumers.

"As a result of our better-than-expected second-quarter operating results and increased forecast for the balance of the year, we are raising our fiscal 2021 outlook, and we now expect record Net Bookings of over $3 billion.

"With the strongest development pipeline in the history of the Company and our ongoing investment in emerging markets, platforms and business models, Take-Two is exceedingly well-positioned to capitalize on the many positive trends in our industry and to generate growth and margin expansion over the long-term."


Staff Writer

Kayleigh is the Staff Writer for PocketGamer.biz. Besides PGbiz and PCGI she has written as a list writer for Game Rant, rambling about any and all things games related. You can also find her on Twitter talking utter nonsense.

Comments

No comments
View options
  • Order by latest to oldest
  • Order by oldest to latest
  • Show all replies