Take-Two reported a 54% increase in revenue to $831.3 million as the company saw a 52% increase in add-on content and in-game revenue that accounted for 58% of its total revenue. Net bookings, which includes in-game purchases, totaled $915.2 million, while net income for the period rose 91% to $88.5 million, or 77 cents per share.
Analysts were expecting the New York City-based video game company to report revenue of $824 million and earnings per share of $1.53, according to FactSet.
The company said its revenue growth was driven by the outperformance of NBA 2K20, Grand Theft Auto V and Grand Theft Auto Online, Red Dead Redemption 2 and Red Dead Online, as well as Social Point’s mobile games.
The company expects revenue in the fiscal second quarter to range between $750 million to $800 million, with revenue for the year expected to range between $2.80 billion and $2.90 billion per share.
Analysts are expecting the company to report fiscal second quarter revenue of $747.9 million with revenue for the year expected to be $2.75 billion.
In the same period a year ago, the company posted earnings of 27 cents a share on sales of $422.2 million.
Take-Two shares were up 4.8% to $175.70 in after-hours trading after rising 2.23% during the day's trading on Monday. Heading into earnings, the stock has risen 8.7% since the company last reported earnings on May 20.
Take-Two closed Monday's session at $167.68, its highest closing price ever.