Videogame publisher Take-Two Interactive Software Inc reported a 31. 4 percent rise in adjusted revenue, driven by strong demand for “NBA 2K17”, the latest version of its popular golf ball franchise, as well as higher downloads from the games.
The company’s shares had been up 5 percent at $47 in after-market trading on Wednesday.
Take-Two, like rivals Electronic Artistry and Activision Blizzard, has recently benefited from a shift to the high-margin digital business, where players download games rather than buy physical video game discs.
Adjusting for deferrals, net revenue rose to $479. four million from $364. 9 million in the second quarter ended September. 30, beating the average analyst estimate of $402. 6 million, according to Thomson Reuters I/B/E/S.
Take-Two forecast current-quarter revenue of $675 million to $725 million, compared with the standard analyst estimate of $649. seven million.
However , the company’s net income dropped to $36. 4 million, or 39 cents per share, from $54. 7 million, or fifty five cents per share, a year previously.
Take-Two said selling plus marketing expenses jumped 46. 1 percent in the quarter.
The company confirmed earlier this month that it would certainly release a new “Red Dead” videogame in the second-half of 2017, right after teasing the return of the Western action-adventure series on social media.
“We have very high hopes for the project, ” Take-Two Chief Executive Strauss Zelnick said in an interview.
“Red Lifeless Redemption 2” should be one of 2017’s biggest releases, Wedbush analyst Eileen Pachter said in a pre-earnings notice, adding that the game positions the company to deliver profits for the foreseeable future.
The new “Red Dead” game will be launched by Take-Two’s Rockstar Games studio room, best known for creating the popular “Grand Theft Auto” franchise. (Reporting by Anya George Tharakan in Bengaluru; Editing by Sriraj Kalluvila)
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