Take-Two Soundly Beats, With $1.9 Billion in Revenue in Q3

Take-Two Interactive beat expectations in Q3 2014, with $1.9 billion in non-GAAP revenue and earnings per share of $5.88 for the quarter.

Analysts had expected less than a billion dollars in revenue and EPS of $1.37. In the previous quarter, Take-Two grossed $415.8 million, which is just over half of what subsidiary Rockstar Games’ Grand Theft Auto V made in its first 24 hours on sale.

The strong holiday quarter was driven primarily by Grand Theft Auto V, which shipped some 32.5 million copies through the end of 2013, as well as new sports games and digital add-on content. Seventy percent of players with an Internet connection have played GTA Online, the game’s online multiplayer mode.

An overwhelming 97 percent of the company’s net revenue came from console gamers, with only three percent from PC and nothing from mobile, versus 18 percent from PC and two percent from mobile at this time last year. A PC version of GTA V has long been expected, but the company declined to make any announcements about when that would arrive.

Also of note is that most of the company’s revenue came from international markets this quarter. The U.S. drove 44 percent this quarter, versus 65 percent in the same quarter last year.

Chairman and CEO Strauss Zelnick acknowledged in an investor call that the company has had “limited success” in its past mobile efforts. He said the processing limitations of mobile devices have kept the company’s top titles off of phones and tablets, but that that may change thanks to Moore’s Law.

“If that’s where people want to consume video games, then that’s where we’ll be,” Zelnick said. “The content isn’t mobile. The content could be anywhere. … If [mobile devices] can support what we do creatively, then we’ll be there.”

Take-Two’s stock has hovered below the $20 mark since 2008, and is trading down about two percent after hours after it issued guidance for the current quarter below analyst expectations.

This article originally appeared on Recode.net.

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