Take-Two Interactive Software Quarterly Earnings Reveal That Profits Doubled
This week, video game developer Take-Two Interactive Software reported its financial results for its fiscal year 2020 fourth quarter and full year. The company generated net revenues of $760.5M USD for the quarter ended March 31, up 41% compared to $539M in last year’s fiscal fourth quarter. For the full fiscal year 2020, Take-Two recorded net revenues of $3.1B, which marks an increase of 16% year-over-year.
The developer’s basketball simulation games NBA 2K20 and NBA 2K19 were amongst the largest revenue contributors during the fiscal year alongside titles such as Grand Theft Auto V, Red Dead Redemption 2, and Borderlands 3.
In total, Take-Two ended its fiscal year 2020 fourth quarter on a net profit of $122.7M, up 116% compared to $56.8M in the same period last year. For its full fiscal year, the company reported a net income of $404.5M, an increase of 21% year-over-year from $333.8M in its fiscal year 2019.
The NBA 2K League, which is a collaboration between Take-Two and the NBA, started its 2020 regular season on May 5 with at least six weeks of remote gameplay.
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