Take-Two Financials: Grand Theft Auto V Reaches 54 Million Shipped, Mafia 3 Arrives After March 2016

Revealing their first quarter fiscal year 2016 (April 1 – June 30) results, Take-Two announced that Grand Theft Auto V has shipped over 54 million units worldwide on PlayStation 4, PlayStation 3, Xbox One, Xbox 360, and PC. This is up by more than two million since the previous quarter.

As for the company itself, Take-Two’s Non-GAAP net revenue was up 142% from last year to $366.4 million, with digital revenue up 139% to $254 million. The biggest titles in the quarter were Grand Theft Auto V and GTA Online, NBA 2K15, Boderlands: The Handsome Collection, and WWE 2K15.

Take-Two Chairman and CEO Strauss Zelnick said:

Our business continued its positive momentum during the fiscal first quarter, enabling Take-Two to deliver significant growth in revenue, Non-GAAP earnings and cash flow. These results were driven by strong consumer demand for Grand Theft Auto V, NBA 2K15 and an array of other titles, along with better-than-expected growth in recurrent consumer spending.

Fiscal 2016 is off to a solid start and promises to be another year of meaningful Non-GAAP profits for our organization. We have a robust development pipeline and are well-positioned to generate revenue growth and margin expansion in future years, and returns for our shareholders over the long-term.

For the full fiscal year 2016 (ending March 31, 2016), Take-Two is forecasting net revenue of $1.3 billion – $1.4 billion.

Looking at the rest of the fiscal year, all of Take-Two’s console titles are coming from 2K and include NBA 2K16 on September 29, WWE 2K16 on October 27, and Battleborn on February 9, while Mafia 3 is scheduled for Calendar 2016/Fiscal Year 2017, meaning it will release between April 1, 2016 and December 31, 2016.