Take-Two had a surprisingly good quarter because GTA Online brought in a boatload of money


This is the real heist

Nearly four years into its life cycle, Grand Theft Auto Online refuses to die. In fact, it's only getting stronger. Its continued success comes to the surprise of almost everyone -- including the parent company that it's practically printing money for.

Take-Two Interactive released its first quarter 2018 investor's report today, and it's GTA Online that's leading the charge. Year-over-year revenue grew 34 percent, up to $418.2 million from $311.6 million. Take-Two points directly at digitally-delivered revenue for the spike, as that segment is up nearly $100 million over 2017's first fiscal quarter. The games responsible for pushing this trend are cited as: GTA Online, Grand Theft Auto V, NBA 2K17, WWE SuperCard, and WWE 2K17.

It's worth noting that Take-Two neglected to outline any specific sales figures for any individual game, so it's tough to quantify exactly how well GTA Online is doing. (Confusingly, other outlets ran that GTA Online had its "best quarter ever," a claim that can't be substantiated by this report.) But, this statement is telling: "Due to the continued success of Grand Theft Auto Online and other factors, [Take-Two] has determined that it is necessary to extend the life of Grand Theft Auto V and Grand Theft Auto Online."

It also feels pertinent to point out that Take-Two didn't release any new games during the last quarter. Despite the lull in launches, it's raising its forecasted annual net revenue by $100 million and net income by $28 million. To everyone's surprise, GTA Online isn't facing the decline that usually impacts aging games. As long as it continues to make money hand over fist, Take-Two has made it clear that GTA Online isn't going anywhere.

Take-Two Interactive Software, Inc. Reports Strong Results for Fiscal First Quarter 2018 [Take-Two Interactive]

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Brett Makedonski
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    Filed under... #financial #Grand Theft Auto #Industry Bull #PC #PS4 #Rockstar #Take-Two #Xbox One



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