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Take-Two’s fiscal year 2016 was stronger than expected thanks to XCOM 2 and Grand Theft Auto

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John Larsen
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Grand Theft Auto V hasn t run out of gas yet.Take-Two released its financial results for the fiscal year 2016 today, posting a GAAP generally accepted accounting practices net revenue of $1.414 billion, up 31 percent from the previous year.

Non-GAAP revenue was slightly down for the year $1.561 billion compared to $1.669 billion the previous year and quarter $342.5 million compared to $427.7 million for fiscal fourth quarter 2015 .These non-GAAP numbers were better than expectations from within the company.

Fiscal 2016 marked the third consecutive year of stronger-than-expected Non-GAAP revenues and profits for Take-Two, said Strauss Zelnick, chairman and chief executive officer of Take-Two, in a press release sent to GamesBeat.

Our results were driven by the continued extraordinary performance of Grand Theft Auto V, ongoing momentum in our NBA 2K and WWE 2K series, the successful launch of XCOM 2, and our highest-ever revenue from recurrent consumer spending.

Battleborn, which launched earlier this month, will also be a part of fiscal 2017.

The report also noted that Rockstar Games, developer of Grand Theft Auto V and Red Dead Redemption, is working on a new project that the company will announce soon.

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