Grand Theft Auto V: 29 million shipped

Take-Two touts record $1.27 billion second quarter on strength of Rockstar Games' latest; Borderlands 2 hits 7.5 million shipped

Grand Theft Auto V has already shipped 29 million units worldwide, eclipsing the lifetime performance of Grand Theft Auto IV less than six weeks after it debuted. That's the cleanest takeaway from Take-Two Interactive's second quarter financial results, which the publisher released today for the three months ended September 30.

As is standard, the company released two sets of numbers, one calculated using generally accepted accounting principles (GAAP figures), and then one set of non-GAAP figures excluding the impact of certain factors. Normally, GamesIndustry International reports just the GAAP figures, but Take-Two's GAAP figures for the second quarter don't actually include the impact of Grand Theft Auto V. This is because Take-Two doesn't report the revenue and costs of selling games with "undelivered elements" until the game is completed. Grand Theft Auto V Online, the game's multiplayer component, launched October 1, the day after Take-Two's quarter ended.

On a GAAP basis, Take-Two posted sales of $148.82 million for the quarter, down 45 percent year-over-year. The publisher also posted net losses of $124.12 million, significantly worse than its $12.49 million loss for the year before.

The non-GAAP numbers were significantly better, with Take-Two posting a record $1.27 billion in revenues, up 340 percent year-over-year. And instead of a net loss, the publisher posted a net income of $325.57 million under the non-GAAP figures.

Given the success of Grand Theft Auto V, Take-Two also upped its financial outlook for the rest of its fiscal year. The company is expecting net revenues for the full year to land between $2.20 billion and $2.30 billion on a non-GAAP basis, with a net income per share between $3.50 and $3.75, which would be a record for the company.

In a post-earnings conference call, Take-Two executives also touted the success of its entire line up, not just Rockstar's latest. The company said that Borderlands 2 has now shipped 7.5 million copies and counting, putting it on track to become the best-selling 2K Games release of all time. Additionally, Take-Two stressed that its last four major releases--NBA 2K14, Grand Theft Auto V, BioShock Infinite, and Borderlands 2--have all posted franchise-high units shipped numbers in comparable time frames after release.

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Latest comments (6)

Paul Jace Merchandiser 2 years ago
Looks like holding back Watchdogs was a much smarter decision than most people thought it was.
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Greg Wilcox Creator, Destroy All Fanboys! 2 years ago
Funny how other sites are posting this as 29M SOLD, which isn't probably true yet. next week, however... ;^)
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James Brightman Editor in Chief, GamesIndustry.biz2 years ago
@Greg, those other sites probably don't understand that sold-in means to retailers (aka shipped), not to consumers. I'm sure the sold through number isn't that far behind!
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Greg Wilcox Creator, Destroy All Fanboys! 2 years ago
Oh, I know, James - that's the modern state of games journalism, sadly. If writers are posting misinformation and editors are allowing them to because they don't know the difference between the two (and it's huge), that not good, period.

Those numbers are important as is the truth behind them (Resident Evil 6, anyone?). I guess it's a good (or bad) thing I don't take bets on stuff like this, as I'd make a mint educating people on the difference between "shipped" and "sold". But as we've both noted... it'll be up there soon enough.
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Alfonso Sexto Lead Tester, Ubisoft Germany2 years ago
We knew the sales would be hi. But this is simply jaw dropping.

Nice work. I'm sure everyone involved is proud of this result.
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@Alfonso Indeed - we should be proud for our medium :) I bloody love Rockstar.
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