Take-Two Interactive (TTWO 0.78%) published its third-quarter earnings results after the market closed on Monday, and the company posted strong results aided by continued performance for its biggest game, Grand Theft Auto V (GTA V). The company announced that the title has now shipped over 140 million copies, up from 135 million copies shipped at the end of the previous quarter.
GTA V was already the most profitable entertainment release ever, by some accounts, and it looks like the title still has plenty of gas in the tank. Take-Two CEO Strauss Zelnick reported that more copies of Grand Theft Auto V were sold than in any year since 2013, the year of the game's first release.
A screen shot from Grand Theft Auto V. Image source: Rockstar Games.
Incredible longevity for unit sales combined with strong in-game currency sales for the online mode have made the title a cash-generating juggernaut. The game should get another boost when it releases on Sony's PlayStation 5 and Microsoft's Xbox Series consoles later this year.
Take-Two also reported strong performance for other key franchises. Red Dead Redemption 2, which was released in October 2018, has now shipped over 36 million copies. The company's latest basketball franchise entry, NBA 2K21, has now shipped 8 million copies, up from 5 million at the end of the previous quarter.
Third-quarter bookings dipped roughly 8.3% year over year to come in at $814.3 million, but the decline reflected a difference in release-schedule timing, and overall results came in significantly better than anticipated. The company posted adjusted earnings per share of $1.25, while the average analyst estimate had called for EPS of $0.97 and bookings of $752.75 million.
With Grand Theft Auto and other core franchises posting great results, it's fair to say Take-Two has never looked stronger.
