In an email, analyst Michael Pachter (a speaker at our upcoming GamesBeat Summit 2019) at Wedbush Securities said today, “ Sympathy with EA is the biggest reason. (I am one of those who finished it).Įven so, as I noted, the stock price fell. But it’s a long game, with one report saying only 22 percent of players had finished the entire game’s 105 missions in the single-player campaign. Given where the sales are, Red Dead Redemption 2 could keep pushing onward. Take-Two is exceedingly well-positioned – creatively, strategically and financially - to capitalize on the vast opportunities that will shape the future of our business, and to deliver long-term growth and margin expansion.” Looking ahead, as our industry continues to embrace new technologies that enhance consumers’ experience with, and access to interactive entertainment, we remain focused on broadening the reach of our content and expanding further globally. He added, “As a result of our outstanding third quarter performance, we are raising our outlook for fiscal 2019, which is poised to be a record year for Net Bookings and Adjusted Operating Cash Flow. In addition, consumers engaged significantly with our offerings, and recurrent consumer spending grew 31 percent to a new record. We generated strong cash flow and ended the period with $1.6 billion in cash and short-term investments, after deploying $109 million to repurchase 1 million shares of our stock.” “Our outperformance was driven primarily by the record-breaking launch of Red Dead Redemption 2 along with strong results from NBA 2K19. “Take-Two delivered better-than-expected results in the fiscal third quarter,” said Strauss Zelnick, chairman and CEO of Take-Two, in a statement. The company reported overall GAAP net income of $179.9 million, or $1.57 a share, on revenues of $1.25 billion. (The company itself doesn’t disclose these kinds of details). I previously did some calculations that suggested the game could be profitable in its first quarter. And it means that game sales could have hit 15 million or 20 million copies sold by the end of the holidays, he said. That indicated roughly 10 million copies sold at the outset (and if you consider average game prices, 12 million units at $60 each), according to analyst Ben Schachter at Macquarie Research. During the days after Red Redemption 2 launched on October 26, Take-Two had previously said that Red Dead Redemption 2 had sold $725 million worth in its first three days of sales.
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