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Take Two reports record revenue on back of Grand Theft Auto V

Today, Take Two Interactive -- the parent company of Rockstar and 2K -- announced record revenue and 94 percent revenue growth year-on-year in its full-year results for fiscal 2014.
Today, Take Two Interactive -- the parent company of Rockstar and 2K -- announced record revenue and 94 percent revenue growth year-on-year in its results for the year ended in March. Revenues climbed to $2.4 billion, as profits soared to $361.7 million -- a big bounce back from a loss of $31.2 million in the prior year. The reasons for the success are obvious, and they're what Take-Two has been talking about for some time now. In the words of CEO Strauss Zelnick: "Rockstar Games’ Grand Theft Auto V reached $1 billion in sales faster than any entertainment release in history, NBA 2K14 enjoyed the franchise’s strongest launch, Borderlands 2 became 2K’s top-selling title, and our digitally-delivered revenue grew to its highest level ever." The company says that it has shipped more than 33 million units of the title to retailers. This is essentially the same story we heard after its third quarter results, during which GTA V and NBA 2K14 shipped. Notice anything? The company had no significant releases since then -- aka the most recent quarter -- and unsurprisingly posted losses for that period. Its fiscal fourth quarter 2014, from January 1 to March 31, 2014, suffered a $30.8 million loss -- a big fall from last year's $21.2 million profit for the same period, when BioShock Infinite shipped. Quarterly revenues were $195.2 million, down from $299.5 million for the same period a year ago. Alongside its release, the company noted that "Grand Theft Auto V was the best-selling console video game of 2013 in North America, Latin America and Europe combined."

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