Take-Two Interactive reports Q3 FY2016 results
Digital sales increasing, GTA V continues to lead
Take-Two Interactive has reported stronger-than-expected financial results for fiscal third quarter 2016, ended December 31, 2015.
For fiscal third quarter 2016, net revenue was $486.8 million, as compared to $954.0 million for the year-ago period, which had benefited from the launches of Grand Theft Auto V for PlayStation 4 and Xbox One, Borderlands: The Pre-Sequel, and Sid Meier’s Civilization: Beyond Earth. Net income was $99.7 million, compared to $211.6 million for the year-ago period. Net income for fiscal third quarter 2016 reflects approximately $32 million in tax benefits related to video game development costs.
Net revenue from digitally-delivered content was $213.6 million and accounted for 44% of total net revenue. Revenue from recurrent consumer spending (virtual currency, downloadable add-on content and online games) grew 45% year-over-year and accounted for 54% of net revenue from digitally-delivered content, or 24% of total net revenue.
Grand Theft Auto V has now sold-in over 60 million units worldwide across all platforms.
This year, the company's major launches include XCOM 2, Mafia III and Battleborn.
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