Take-Two Boasts “Incredibly Strong Holiday Season” as It Announces Better-Than-Expected Financial Results

Today Take-Two Interactive Software announced its financial results for the third quarter of the fiscal year 2021, related to the period between Oct. 1 and Dec. 31, 2020.

Below you can check out a summary of the company’s performance for the quarter.

• GAAP net revenue was $860.9 million
• GAAP net income per diluted share increased 10% to $1.57
• GAAP net cash provided by operating activities for the nine-months ended December 31, 2020 increased 79% to $787.7 million
• Adjusted Unrestricted Operating Cash Flow (Non-GAAP) for the nine-months ended December 31, 2020 increased 56% to $854.3 million
• Net Bookings were $814.3 million
• Company again raises outlook for fiscal year 2021, including record Net Bookings

We also read a comment from Chief Executive Officer Strauss Zelnick, who mentioned the increase of the full fiscal year outlook and boasts an “incredibly strong holiday season.”

“Due to an incredibly strong holiday season, coupled with our ability to provide consistently the highest quality entertainment experiences, especially as many individuals continue to shelter at home, Take-Two delivered operating results that significantly exceeded our expectations.

The outperformance of Grand Theft Auto Online, Grand Theft Auto V, NBA 2K, the Mafia: Definitive Editions and Mafia: Trilogy, and Red Dead Redemption 2 reflects our development teams’ boundless passion, creativity, and commitment to captivate and engage audiences.”

“As a result of our better-than-expected third quarter operating results and increased forecast for the remainder of the year, we are once again raising our fiscal year 2021 outlook, and we expect to achieve record Net Bookings of $3.37 billion to $3.42 billion.”

“Take-Two is exceedingly well-positioned to capitalize further on the positive trends of our industry and to pursue our core mission to become the most innovative, creative, and efficient entertainment company in the world. By scaling our business further through a highly disciplined approach to both organic and inorganic growth opportunities, having the willingness to explore and experiment with new markets and business models, and investing prudently to enhance our global infrastructure and resources, Take-Two remains poised to generate growth and margin expansion over the long-term.”

Below you can check out a few highlights from Take-two’s brands.

Take-Two:

• Take-Two maintained its commitment to giving back to its communities. During fiscal year 2021, across our Company and labels, we have donated over $18 million to provide support to more than 190 organizations throughout the world, and we will continue these efforts. Our donations have supported charities oriented with COVID-19 relief efforts, as well as efforts to enhance diversity and inclusion within our industry and to help eradicate racial injustice within our communities.
• On November 6, 2020, Take-Two announced that it had confirmed an announcement made by the Board of Codemasters that the Company had made a proposal to possibly acquire UK-based game publisher and developer Codemasters. On December 14, 2020, Take-Two announced that it noted an announcement made by Codex Games Limited, an indirect subsidiary of Electronic Arts Inc. (“Electronic Arts”), of a firm intention to make an offer for Codemasters, and a subsequent announcement made by the Board of Codemasters to change its recommendation from the acquisition of Codemasters by Take-Two in favor of Electronic Arts. On January 13, 2021, Take-Two announced that, with the consent of the Panel, its offer to acquire Codemasters had lapsed.

Rockstar Games:

• Acquired Ruffian Games. Based in Dundee, Scotland, the studio will operate under the new name of Rockstar Dundee. Terms of the acquisition were not disclosed. Founded in 2008 by Gary Liddon and Billy Thomson, Ruffian partnered with 343 Industries to work on Halo: Reach from the Halo Master Chief Collection, among many other projects. Ruffian’s talented team of just over 40 have a depth of development experience that includes work on some early Rockstar titles from the Grand Theft Auto and Manhunt series. Both Liddon and Thomson will remain on-board as Co-Studio Directors of Rockstar Dundee.
• Released Grand Theft Auto Online’s biggest update to date – The Cayo Perico Heist –featuring a new tropical island Heist location for up to four players, including, for the first time, the option to play the entire Heist solo. The update also features a new nightclub – The Music Locker – open to the public and featuring performances by real-world DJs Moodymann, Palms Trax and Keinemusik, two new radio stations, updates to two existing radio stations, a purchasable submarine HQ, 13 additional new vehicles, three weapons, new clothing and more. In addition, Rockstar Games released an array of free content updates for Grand Theft Auto Online, including Halloween-themed Business Battles featuring UFOs and several new vehicles including sports cars, dirt bikes, military vehicles and more.
• Released a standalone version of Red Dead Online for PlayStation 4, Xbox One and PC that for the first time allows new players who do not already own Red Redemption 2 to experience everything that Red Dead Online has to offer, including access to all future content updates. Players will also have the option to unlock Red Dead Redemption 2: Story Mode via an additional purchase.
• Released new free content updates for Red Dead Online,including:
  • For the Naturalist Role: New Sighting Missions, including the Golden Spirit Bear, Ruddy Moose, and Iwakta Panther; and New Legendary Animals, including the Legendary Nightwalker and Ghost Panther, along with new clothing, weapons, locations and more;
  • The Halloween Pass that featured new cosmetic items and weapons, photo studio backgrounds and a Gothic Décor Theme for a player’s Moonshine Bar;
  • For the Bounty Hunter Role: The Prestigious Bounty Hunter License, featuring 10 new Prestigious Ranks with new Role Items, Infamous Bounties, and new Prestigious Legendary Bounty: Gene “Beau” Finley, alongside the Outlaw Pass No. 4 and its new rewards, clothing, skill pamphlets, and photography enhancements, plus, new Mustang and Missouri Fox Trotter horses and gameplay improvements. Additional Legendary Bounties for Carmela “La Muñeca” Montez and Virgil “The Shepherd” Edwards were later released;
  • New Horses and Festive Showdowns, which introduced new Turkoman horse breeds and festive renditions of modes such as Make It Count – Bow & Arrow and Last Stand.
• Throughout the calendar year, Rockstar Games will continue to support both Red Dead Online and Grand Theft Auto Online with more content updates to keep new and returning players excited and engaged.

2K:

• Launched NBA 2K21 for PlayStation 5 and Xbox Series X. Built from the ground up for next-generation consoles, NBA 2K21 once again redefined the standard for sports simulations. In addition to unparalleled graphics and loading speeds, NBA 2K21 introduced several initiatives to bridge prior and new console generations of the game, including MyTEAM Cross-Progression and a Shared VC Wallet within the same console families. NBA legend Kobe Bryant’s lifetime achievement of basketball excellence is celebrated with the NBA 2K21 Mamba Forever Edition, whichprovides players with seamless access to both prior and next-generation versions of the game. In addition, NBA 2K21 features The City, a completely overhauled Park experience, exclusive to NBA 2K21 on next-generation consoles. Originally introduced in NBA 2K14 forXbox One and PS4, The Park helped push 2K forward by creating a competitive online basketball environment that allowed our quickly growing community to compete against one another outside of the authentic NBA experience. The City, which is many times larger and a more immersive community-based experience, is only possible on next-generation consoles, and is Visual Concept’s most ambitious execution of a virtual basketball community.
• Expanded the breadth of NBA 2K offerings with the releases of NBA SuperCard and NBA 2K Mobile Season 3 for iOS and Android devices.
• Launched Borderlands 3 for PlayStation 5 and Xbox Series X. The title has been fully optimized for next-generation consoles, making mayhem bigger and bolder than ever before. All players who own or purchase the game on prior consoles will be able to download the next-generation upgrade within the same console family free of charge. This free next-gen upgrade will add several exclusive features, including 4K resolution at 60 frames-per-second in single-player and online co-op, plus support for three- and four-player split-screen co-op. In addition, 2K released a second Season Pass for Borderlands 3 for all previously released and next-generation versions of the game. Season Pass 2 includes two brand new content add-ons – Designer’s Cut, which adds all new ways to play Borderlands 3 by introducing a new Skill Tree for each Vault Hunter, a new standalone mode called Arms Race, and more; and the Director’s Cut, which is planned for release in spring 2021.
• Released a series of free and paid content for PGA TOUR 2K21 for PlayStation 4, Xbox One, Switch (digital), PC and Stadia, including the 3-Hole Match Types update, the Halloween update, and the Clubhouse Pass (standard, premium and premium+ editions).
• Launched the Babylon and Vietnam & Kublai Khan packs for Sid Meier’s Civilization VI as part of Firaxis Games’ New Frontier Pass for PlayStation 4, Xbox One, Nintendo Switch and PC. The packs feature new civilizations and leaders, and are also available for individual purchase. The final Frontier Pass pack will be released in March 2021.
• Released a series of roster updates featuring notable WWE Superstars and Legends for WWE 2K Battlegrounds, the arcade-style brawler that takes over-the-top WWE action to new heights, for PlayStation 4, Xbox One, PC, Switch and Stadia. WWE 2K Battlegrounds brings fast-paced action and an assortment of power-ups, special moves, unconventional melee items and interactive environments to take the brawl to the next level. Players can take on the challenges alone or compete with friends and family in person or online in cooperative and competitive multiplayer modes.
• Launched Season 7 of WWE SuperCard, the newest addition to the action-packed collectible card-battling game, as a free, downloadable update for iOS, Android, and Facebook Gaming.

Private Division:

• Continues to release new, free content for Kerbal Space Program, including the Some Assembly Required update for Kerbal Space Program for PC on December 17, 2020, and a new content update for Kerbal Space Program: Enhanced Edition for PlayStation 4 and Xbox One on January 14, 2021. These free updates continue to provide new features and content for all players of the critically acclaimed physics-based space simulation game.
• Launched Kerbal Space Program, its beloved space simulation, on Tencent’s WeGame portal in China on February 2, 2021.
• Announced that on February 10, 2021, it will release, along with Obsidian Entertainment, The Outer Worlds: Peril on Gorgon, the first narrative-led expansion for the critically acclaimed, darkly humorous sci-fi RPG for the Nintendo Switch. The expansion was released previously for PlayStation 4, Xbox One, and PC, and is available individually or at a discount as part of The Outer Worlds Expansion Pass, which will also include The Outer Worlds: Murder on Eridanos, the second expansion set to launch on PlayStation 4, Xbox One, and PC this fiscal year, and on Nintendo Switch in calendar 2021.

Last, but not least, here’s a look at the upcoming games from the publisher’s brands.

If you’d like to compare, you can check out the results for the previous quarter, which were published in November.