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Take-Two makes it rain $1 billion more in fiscal 2014

Mike Suszek, @mikesuszek
May 13, 2014
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Take-Two reported net revenue of $2.35 billion for fiscal 2014 (the year ending March 31, 2014), a 94 percent growth from its reported revenue of $1.21 billion in 2013. It also reported a net income of $361.7 million, which compares rather favorably to the net loss of $31.2 million it suffered last year. As of the end of fiscal 2014, Take-Two had "cash and cash equivalents of $935.4 million," plenty to make it rain a few times.

As for the fourth quarter of fiscal 2014, Take-Two's net revenue was $195.2 million, a 34.8 percent decrease compared to the same quarter last year ($299.5 million). It also reported a net loss of $30.8 million for the quarter, which compares to the net gain of $21.2 million reported in Q4 2013. The publisher's digitally-delivered revenue increased 65 percent year-over-year to $435.1 million on a non-GAAP basis (Generally Accepted Accounting Principles). In its earnings call, Take-Two CEO Strauss Zelnick noted that Grand Theft Auto Online was the "single largest contributor" to the company's digital revenue growth. Take-Two also reported that it has shipped 33 million copies of GTA 5 to date.

Looking ahead to the next fiscal year (ending March 31, 2015), Take-Two projects its non-GAAP net revenue to fall between $1.35 billion and $1.45 billion, and anticipates its net revenue between $120 million and $135 million for the next quarter, also on a non-GAAP basis.





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