Take-Two Interactive closed out the third quarter of its 2020 fiscal year with GAAP revenue of $930.1 million, down $300 million year-over-year though digitally-delivered revenue saw a $106 million increase during the same period.
Recent releases like The Outer Worlds and WWE 2K20 chipped in to those Q3 revenue totals alongside mobile games from Social Point, while several Take-Two mainstays—NBA 2K20 and 2K19, Grand Theft Auto V and Online, Red Dead Redemption 2 and Online, and Borderlands 3—rounded out the list of games the company credits as the largest contributors to the quarter’s totals.
Many of those same titles were offered as the biggest drivers behind Take-Two’s $700.3 million in digitally-delivered net revenue, which makes up 75 percent of the total GAAP net revenue for the quarter, while recurrent consumer spending like virtual currency sales, add-on content, and in-game purchases accounted for 37 percent of total net revenue, led by the NBA 2K series. Net income for the period came in at $163.6 million.
Looking forward, Take-Two has slightly raised its forecasts for the full 12 month period ending March 31, 2020, with net revenue now expected in the $2.96 billion to $3 billion range, down from $2.93 billion to $3.03 billion.