Take-Two ends Q3 2013 with net profit of $70.9 million

Feb 5, 2013
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Take-Two ends Q3 2013 with net profit of $70.9 million

Take-Two has delivered its fiscal Q3 2013 report this evening, and the results are looking pretty good across the board. The company reports a net revenue of $415.8 million for the quarter, which is up a significant amount from the $236.3 million it made in its fiscal Q3 2012. Net profit also took a massive jump year-over-year, going from $14.2 million in Q3 2013 all the way up to $70.9 million.

That puts earnings-per-share at at $0.66, up $0.50 from the year-ago quarter. All in all, Q3 2013 was a pretty good one for the company, and it was good enough that Take-Two is now increasing the low-end of its projections for fiscal year 2013. The company expects non-GAAP net revenue to land somewhere between and $235 and $285 million in Q4, while it's projecting net revenue of $1.15 to $1.20 billion for fiscal year 2013 as a whole.

Take-Two performed well on the digital front, as digital revenue grew 244% year-over-year. Borderlands and its DLC was given the nod for the increase in digital revenue, as were XCOM: Enemy Unknown, the Grand Theft Auto franchise, and NBA 2K13. In the end, digital revenue accounted for 23% of Take-Two's total non-GAAP revenue, which certainly isn't anything to stick your nose up at.

The company has a big fiscal Q4 2013 coming up, thanks to the launch of BioShock Infinite next month. Following the end of the fiscal year, Take-Two and Rockstar will be launching Grand Theft Auto V on September 17, while the XCOM reboot that had fans up in arms will be arriving sometime during fiscal year 2014. Stay tuned.

[via Take-Two]


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