Video game publisher Take-Two Interactive (TTWO) is on a roll.
The company behind mega-hit franchises such as Grand Theft Auto, Red Dead Redemption, NBA 2K, Civilization, and WWE 2K ended fiscal 2016 with the third consecutive year of stronger-than-expected revenues and profits, and its stock price is up more than 33% over the last 12 months, compared to a decline of almost 2% for the S&P 500.
At the Electronic Entertainment Expo (E3) this week, Take-Two's 2K division showcased new games such as Mafia III, Sid Meier's Civilization VI, WWE 2K17, and NBA 2K17. And the company's Rockstar Games division continues to expand Grand Theft Auto V with new online content, including the recently released update, "Further Adventures in Finance and Felony."
Take-Two chairman and CEO Strauss Zelnick talked with us in an exclusive interview just prior to E3 about the game industry's changing landscape, the importance of E3, and the opportunities virtual reality and eSports open up to the industry.
What is Take-Two doing in the mobile games space?
What we found so far is that when we bring our beloved franchises and brands to the casual and smartphone and tablet market space, we can achieve great success. So we've brought some of our catalog titles that can run well on tablets, including Grand Theft Auto: Liberty City Stories, Grand Theft Auto: San Andreas, and Grand Theft Auto III: 10th Anniversary Edition.
We've also brought Max Payne, Sid Meier's Civilization Revolution, and BioShock. And we've brought a number of titles that play well on smartphones like WWE Super Card, which has been downloaded more than 10 million times, and the My NBA 2K Companion App, which is a significant driver of virtual currency sales.