Video game developer Take-Two Interactive Software reported its financial results for its fiscal year 2021 third quarter. The company generated net revenues of $861M USD for the quarter ended Dec. 31, down 7.4% compared to $930M in last year’s fiscal third quarter.
While Take-Two’s total revenues slightly declined year-over-year, recurrent consumer spending generated through revenue streams such as virtual currency, add-on content, and in-game purchases, increased by 57% and accounted for 62% of Take-Two’s total net revenues. The developer’s basketball simulation games NBA 2K21 and NBA 2K20 were amongst the largest revenue contributors during the fiscal year alongside titles such as Grand Theft Auto V, Red Dead Redemption 2, and the WWE series.
On Nov. 6, 2020, Take-Two announced that it had made a proposal to possibly acquire U.K.-based racing game publisher and developer Codemasters before lapsing its offer in January as its competitor Electronic Arts submitted a competing offer at a higher valuation of Codemasters.
In total, Take-Two ended its fiscal year Q3 FY 2021 on a net profit of $182M, up 11.4% compared to $164M in the same period last year.
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