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Grand Theft Auto V ships 32.5M copies to-date, driving Take-Two revenues

As expected, the world-beating success of the latest GTA game has given Take-Two a big boost, as announced today in the company's third quarter results.
Take-Two Interactive shipped Grand Theft Auto V in its fiscal third quarter, ending December 31, 2013. That meant a big spike in revenues: $1.86 billion, compared to $415.8 million for the same quarter a year prior. To-date, the company has shipped 32.5 million copies of the game -- which helped make it the top publisher of the year in the U.S., according to the NPD Group, Take-Two said in a statement. That wasn't the company's only successful launch, however: It also shipped WWE 2K14, having taken the wrestling license from the bankrupt THQ last year. The company also shipped over 5 million copies of NBA 2K14. Profits were $578.4 million for the quarter, up from $70.9 million for the same quarter a year ago. The company is sitting on nearly $1 billion in cash and cash equivalents, with a war chest of $972.2 million. On the back of these rosy results, the company has raised its revenue and earnings outlook for fiscal 2014, ending in March, with CEO Strauss Zelnick stating that the year is "poised to be a record year for Take-Two." The company is so confident that he has told investors that Take-Two expects to post earnings for "every year for the foreseeable future."

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