When it comes to gaming GTA V is a real household name with lots of fan around the globe. The game became an instant hit after GTA III and GTA Vice City hit the shelves, and these games along with GTA San Andreas are still played and are looked upon as game changers in the open-world action game industry. The games publisher/ distributor, Take-Two Interactive revealed that GTA V became on of the top best-selling games of all time as it hit 54 million sales. One of the reasons for this is that game is available across previous and current gen platforms including Xbox 360, Xbox One, PS3, PS4 and the Windows PC. If we deduce that each copy was sold for a retail of $60, that makes a total of sales, an astounding $3.24 billion.
GTA V Distributor Take-Two Interactive Fell Short on Earnings But Clears Revenue Targets
Take-Two interactive reported some solid progress for the company as it reported earnings per share of 31 cents on revenues of $366.4 million, which strengthens its position as it suffered a loss of EPS (earnings per share) at 14 cents same time last year. However, the analysts expected the EPS at 36 cents on revenues of $351 million but the increase in revenues still shows that future prospects for the company are strong.
The digital media and electronics analyst, Michael Patcher, estimated that the revenue from digital sales will hit $219 million to coincide with the company's revenue target, but in fact, digital revenue for Take-Two interactive grew to $254 million which represents digital revenue growth of 139 percent. In a statement made earlier, the chairman and CEO of Take-two Interactive 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.”
Given the fact that GTA V is still going strong and that NBA 2K16 is launching on the PlayStation, Xbox, and PC platforms on Sept. 29, we can only expect that the company will continue to make a statement with strong revenue returns in the foreseeable future.
With that being said, stay tuned for more information on GTA V and do share your views with us in the comments section.