Take-Two Interactive Software, Inc. (NASDAQ:TTWO) is a worldwide developer, publisher and marketer of interactive entertainment products for its consumers all over the world. The company reported very strong results for the second fiscal quarter 2014 which ended recently on the 30th of September 2013. Along with that the company has also increased its financial outlook for fiscal year 2014 which will come to an end on the 31st of March 2014 and its outlook for the third quarter 2014 which will end on the 31st of December 2013.
GAAP results for the second quarter leaves out the revenue and the cost of goods related to sell-in of the game Grand Theft Auto 5 during this fiscal quarter as there was a free game known as Grand Theft Auto Online which was also launched with the GTA V. The GTA Online game will be available for consumers with every copy of GTA V. Net revenue for the fiscal second quarter 2014 was 148.8 million USD which is lower than the $273.1 million for fiscal second quarter 2013. A net GAAP loss of$124.1 million or $0.15 for every diluted share, as of the 30th of September 2013, the company has cash and equivalents of approximately $661.9 million.
The Non-GAAP net revenue for the fiscal second quarter 2014 which also includes the sell in values for GTA V swelled up to $1.27 billion which was a huge increase when compared to the $288 million that it made in the same period last year. The Non-GAAP net income saw an increase to $325.6 million as compared to $10.2 million for the same period from last year.
Without a doubt GTA V was the biggest contributor to the Non-GAAP revenue. Non-GAAP total revenue from content delivered digitally has grown 85% to $105.5 million year-over-year and this too is mostly driven by the GTA series which has been the company’s biggest offering. Besides that Borderland 2, Sid Meier’s Civilization Vand BioShock® Infinite are also some of the offerings from this company.
