Yesterday, Take-Two released its third quarter 2020 financial report, which was not a record this time. Net income fell several percent, but microtransaction revenues rose.
- Revenue of $ 841 million, of which 85% are digital sales
- Microtransaction revenue grew 56% year-on-year to 59% of total revenue
- The cost of one share increased by 3.15% to $ 174
- GTA V shipments totaled 135 million copies
- Red Dead Redemption 2 Shipments Reach 35 Million Copies
- The Outer Worlds has sold 3 million copies
- The total shipments of Mafia: Definitive Edition, taking into account the reissue of the entire trilogy, amounted to 2 million copies
- NBA 2K21 had an “incredible” start last quarter. 5 million copies have already been shipped, and users spend 76% more in the game than in the previous part
- Kerbal Space Program 2 postponed to 2022
Forecasts and the next generation
Take-Two CEO Strauss Zelnik said in a report that the company will not simply port its games to next-generation consoles. Titles are waiting for a full update with improved graphics and additional content.
We found that we could bring our favorite games from the main franchises to the next generation seamlessly, and in large part because they always looked better [than the competition], looked different. We constantly supplemented them with content.
But we are not porting our titles. We improve their quality, we update them, we improve them.
As for fresh AAA releases by the end of the year, there won’t be any. Zelnik doubts that something will be released for the new consoles anytime soon.
We always have to find a balance between the desire to work on these great platforms – this is what our teams want – and the need to wait for a certain base of players.
Usually the second Christmas after launch is the key moment. You will see more titles next year.
In the next fiscal quarter, which ends December 31, Take-Two plans to raise $ 760-810 million. Net income is expected to be in the region of $ 128-140, and the share price is $ 1.10-1.21.