Take-Two's forecast 'better than feared', shares hit record
25 May, 2017, 00:51 | Author: Jacqueline Ellis
Grand Theft Auto 5 continues to sell very well for Take-Two despite being on the market going on four years now. A PS4 and Xbox One version was released the following year and, in 2015, the game was finally released on PC.
Another quarter, another Take-Two investor call, another sales milestone.
As for revenue, Take-Two, for the whole of the 2017 financial year, the company received 1.780 billion, which is 26 % higher than twelve months earlier (when it was 1.414 billion).
Publisher Take-Two reported in its financial results for the fourth quarter and fiscal year of 2017 that Grand Theft Auto V has now sold over 80 million copies. Until now, the game has shipped just 5 million units. With 75 % of sales have to the copies on physical media, and 25% for digital. When it does arrive, it's headed to the Xbox One and PlayStation 4. GTA Online has been a big victor as well, with the game continuing to see year-over-year growth in recurrent spending. The negative reviews definitely hurt the title more than Take-Two anticipated.
Donald Trump holds Vatican meeting with Pope Francis
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The new generation upgrades also extend to Grand Theft Auto Online, an ever-evolving Grand Theft Auto universe. "During fiscal 2017, we delivered Bookings and cash provided by operating activities that significantly exceeded our original expectations, along with revenue growth and margin expansion".
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.
It's unsurprising, then, that GTA V was also the largest contributor to the publisher's bookings in both Q4 and the fiscal year as a whole, helping Take-Two's catalogue titles reached an impressive $880.7m last financial year, which is nearly 50 per cent of the company's total bookings for the entire year.
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