Take-Two preparing 'groundbreaking new IP' for next-gen consoles - Zelnick

Rockstar parent company promises "extraordinary pipeline of titles"

Take-Two Interactive, parent company of Grand Theft Auto makers Rockstar, has promised "groundbreaking new intellectual property" for next-generation consoles.


CEO Strauss Zelnick was upbeat on the firm's future prospects during an earnings call today, as it primes itself for the major console transition, as well as the launch of Grand Theft Auto V later this year.

"Our industry appears poised to enter an exciting growth period driven by the upcoming launches of the next-generation consoles, as well as the increasing popularity of emerging mobile and online platforms," said Zelnick during the call.

"Fiscal 2014 promises to be one of our best years ever, highlighted by the upcoming launch of Grand Theft Auto V in September."

He went on, "We also have a extraordinary pipeline of titles in development for next-generation platforms, including groundbreaking new intellectual property and releases from our proven franchises."

Sony has announced a PlayStation 4 launch date of 'Holiday 2013', while Microsoft is primed to reveal its next-generation Xbox at a special event on May 21.

The firm today reported net revenues of $1.214 billion for fiscal year 2013 ended March 31, 2013, up from $825.8 million the prior year. Net loss from continuing operations was $31.2 million, compared to $107.7 million in FY2012.

Fourth quarter FY2013 (January 1 - March 31, 2013) net revenue was $299.5 million, as compared to $148.1 million for same period in FY2012.

"Take-Two delivered strong revenue growth and solid non-GAAP earnings for fiscal year 2013, driven by robust demand for our groundbreaking new releases, iconic catalog titles and expanding portfolio of digitally delivered offerings," said Zelnick in the earnings report.

"With BioShock Infinite, Borderlands 2, NBA 2K13 and XCOM: Enemy Unknown, our 2K label released four of the past year's most critically acclaimed titles.

"Looking ahead, we have an extensive pipeline of next-generation and emerging platform titles in development, including both new intellectual property and releases from our proven franchises. As a result, our current outlook is to be profitable on a non-GAAP basis in fiscal 2015 and for the foreseeable future," he added.