Take-Two Interactive Has a Sweet Quarter
The gaming industry continues to prove its products and its business thrive in spite of a bleak employment outlook and a downward trend in household income. In bleak times, people love their entertainment, and gaming is entertainment.
Take-Two Interactive reported earnings for the fourth quarter and the end of its 2011 fiscal year, earlier this week. The developer of Red Dead Redemption, Grand Theft Auto, Borderlands, and Sid Meier's Civilization had a great year.
Here are some of the highlights from their financial report:
- Net revenue for 2011 was $1.14 billion, up 49% from the previous year.
- The strongest contributors to revenue for the quarter were: NBA(R) 2K11, Top Spin 4, Major League Baseball(R) 2K11, Grand Theft Auto IV: Complete and Red Dead Redemption: Undead Nightmare
- 15% of revenue in the fourth quarter came from digitally delivered content (i.e. no hard copy or brick-and-mortar involved.). Red Dead Redemption, the Grand Theft Auto, Borderlands and Sid Meier's Civilization drove digital sales.
Take -Two Interactive enters the next fiscal year from a position of power. L. A. Noire appears to be a hit, both critically and in terms of sales. Good grief, according to Take-Two, it's the "first video game ever chosen as an official selection of the Tribeca Film Festival."
Oh, and Max Payne 3 is due soon, too.
Looks like Take-Two Interactive is poised to have another great fiscal year in 2012 and gamers are poised to have a lot of fun.