‘Grand Theft Auto’ publisher Take-Two’s revenue jumps 13 percent

Germany’s new electric car discount scheme draws nearly 2,000 applicants
August 4, 2016
Zynga quarterly bookings beat estimates with help from slot games
August 4, 2016
This post was originally published on this site
A promotion for the computer game ''Grand Theft Auto Five'' is show in a Game Stop gaming story in Encinitas, California September 17, 2013.  REUTERS/Mike Blake
A promotion for the computer game ”Grand Theft Auto Five” is show in a Game Stop gaming story in Encinitas, California September 17, 2013.

Reuters/Mike Blake


Videogame publisher Take-Two Interactive Software Inc reported a 13 percent rise in revenue, helped by strong sales of its “Grand Theft Auto V” and “NBA 2K16” titles.

Take-Two, like its rivals, has also benefited from a shift by players downloading digital copies of its videogames – which generate higher margins – rather than buying physical game discs.

Take Two’s net revenue rose to $311.55 million in the first quarter ended June 30 from $257.30 million a year earlier.

Digital downloads accounted for about 55 percent of revenue in the quarter.

Net loss narrowed to $38.57 million, or 46 cents per share, from $67.02 million, or 81 cents per share.

Take-Two also forecast revenue of $375 million to $425 million for the current quarter and revenue of $1.75 billion to $1.85 billion for the year ending March 2017.

(Reporting by Sai Sachin R in Bengaluru; Editing by Savio D’Souza)