Take-Two sees massive digital revenue increase

Take-Two has released its financial results for Q1 of its 2014 financial year, and the massive publisher has said that its revenue was boosted by strong digital sales.

The GTA-publisher racked up net revenue of $144.3 million for Q1, compared to $226.1 million in the same period of the previous year, which benefitted from the release of Max Payne 3 and Spec Ops: The Line.

The loss for Q1 2014 was $47.1 million – an improvement from the $98.8 million from the previous year’s respective period.

The largest contributors to net revenue in fiscal first quarter 2014 were offerings for Borderlands 2, NBA 2K13, Grand Theft Auto IV, and Bioshock Infinite,” said Take-Two.

“Catalog sales accounted for 60% of Non-GAAP net revenue led by the Borderlands franchise, the Grand Theft Auto franchise, and Red Dead Redemption,” added the publisher.

Take-Two explained that revenue from digitally delivered content grew 128% year-over-year and accounted for a record 52% of Non-GAAP net revenue.

“Our better-than-expected first quarter results demonstrate that the market remains strong for the highest-quality interactive entertainment,” said Strauss Zelnick, Chairman and CEO of Take-Two.

“With Grand Theft Auto V launching on September 17th, followed by the releases of NBA 2K14 and WWE 2K14, fiscal 2014 is poised to be one of our best years ever,” added Zelnick.