Today, Take-Two released its financial earnings report for the second fiscal quarter of 2017, ended on September 30, 2017. Net revenue grew to $420.4 million for the quarter, up 21 percent year-over-year. $230.8 million of that revenue was from digital sources, a rise of 14 percent from the second fiscal quarter of 2016. Profits were were down though, coming to $36.4 million for the quarter.
The company continues to make crazy bank on Grand Theft Auto V, Grand Theft Auto Online, and NBA 2K16, joined this year by NBA 2K17. Digital bookings for just those titles accounted for $193.7 million of Take-Two's total of $210.8 million, which is up 50 percent year-over-year in total. Expect Red Dead Redemption 2 to have a full Red Dead Online mode and NBA 2K to continue its microtransactions forward into 2017 and beyond. NBA 2K17 became the highest-rated title in the NBA 2K series and has sold-in (read: copies shipped to retailers) 4.5 million units to date.
"Take-Two's business continued to outperform during the second quarter, enabling us to deliver strong net revenue and better-than-expected bookings growth," said Take-Two CEO Strauss Zelnick. "Our outstanding results were highlighted by the series' record-breaking launch of NBA 2K17, ongoing robust demand for Grand Theft Auto V, and increased recurrent consumer spending, including year-over-year bookings growth from Grand Theft Auto Online."
The holiday quarter for the company is already off to a great start as well. Mafia 3, the sequel from new Take-Two studio Hangar 13, launched with a first week sell-in of 4.5 million copies, making it one of the fastest selling titles in 2K history. Of course, it'll be interesting to see if the sell-through, copies sold to consumers, matches that pace ahead of the holiday.
Likewise, Civilization VI launched, bringing the entire Civilization franchise to 37 million units sold-in. Bioshock: The Collection and XCOM 2 on consoles back up a rather strong holiday slate for the publisher.
"Our holiday season is off to a great start with a diverse array of successful new releases, including Mafia III, WWE 2K17 and Sid Meier's Civilization VI, as well as our first virtual reality offering – Carnival Games VR," said Zelnick. "Looking ahead, fiscal 2018 is poised to be another strong year for our Company. We expect to grow both bookings and net cash provided by operating activities driven by our release slate led by Rockstar Games' highly anticipated launch of Red Dead Redemption 2."