In Take-Two's first quarter financial results, the firm reveals that it saw a short decline of 12% and that the studios under its wing haven't had any issues continuing under a relatively lean operating budget.
In Non-GAAP net revenue, Take-Two saw 5% growth despite "net loss narrowed to $11.2 million." The studio specifically noted Grand Theft Auto V, Borderlands 2, and the NBA 2K franchise as movers on store shelves.
Strauss Zelnick, Chairman and CEO of Take-Two said:
During the fiscal first quarter, we delivered Non-GAAP revenue growth without the benefit of any major new releases. Our better-than-expected results were driven by the strength of our expanding portfolio of digitally-deliered offerings combined with persistent robust demand for NBA 2K14 and Grand Theft Auto V.
Take-Two has an extraordinary development pipeline, including a diverse array of the highest-quality new titles and innovative offerings designed to drive recurrent consumer spending. Our lineup for the current fiscal year is highlighted by six eagerly anticipated new releases, such as Grand Theft Auto V for PS4, Xbox One and PC, NBA 2K15, and Evolve – the winner of the E3 2014 Game Critics' Best of Show award. Fiscal 2015 is poised to be another year of strong profits for our organization, and we remain extraordinarily well-positioned for the future.
Rockstar Games get specific shout-outs for specific updates to GTA Online and the planned release of Grand Theft Auto V on next-gen consoles and PC. Battleborn, XCOM, Civilization: Beyond Earth, Evolve, and others have promising outlooks for the rest of 2014 and into 2015.
2K Games also proudly reported that Borderlands 2 has shipped 10 million to consumers and that it's currently the company's highest-selling game. Borderlands offers 2K the ability to relax on faith that and "there's still a huge install base of consumers." 2K president Karl Slatoff said "Borderlands is beloved… we have very high hopes for The Pre-Sequel for current-gen platforms and PC." Slatoff added that they expect a really high-quality game.
For more, read the full report on Take-Two's website.
