According to a report today from VG 24/7, Grand Theft Auto 5 publisher Take-Two forecasts that the company’s revenue by the end of the fiscal year could reach $2.2 billion on the heels of the title’s overwhelming success.
With the Rockstar Games juggernaut selling more than 29 million copies to retailers, GTA 5 has elevated Take-Two’s year-on-year quarterly revenue by nearly $1 billion –– from $288 million in Q2 2012 to $1.27 billion in Q2 2013.
“During the fiscal second quarter, we delivered record non-GAAP results driven by the unprecedented success of Rockstar Games’ Grand Theft Auto 5,” said Take-Two CEO Strauss Zelnick.
“The title received stellar reviews, shattered entertainment industry records, and has already sold-in nearly 29 million units to date. The extraordinary success of Grand Theft Auto 5 illustrates the positive momentum in our business and consumers’ enduring appetite for the highest-quality interactive entertainment.”
Zelnick credited GTA 5’s success to the large install bases of the Xbox 360 and PS3 due to the waning hours of the console lifecycle.
The 29 million “sell-in” copies of GTA 5 –– meaning to retailers and not consumers –– is more than GTA 4 pushed on the Xbox 360 and PS3 since its release five years ago.
However Christine Arrington, senior games analyst with IHS Electronics & Media, said yesterday that Take-Two’s shipment and financial report could be fool’s gold due to the publisher’s lack of digital strategy.