Take-Two Interactive CEO Strauss Zelnick. Photo credit: Christopher Michel on Flickr, under Creative Commons license

Gaming studio Take-Two Interactive has announced its financial results for the second quarter of this year, indicating $831 million in revenue, up 54% year-over-year despite the company not releasing any new game during the quarter. Revenue for the quarter was buoyed by games such as NBA 2K20, Red Dead Redemption 2, and Grand Theft Auto V as well as mobile games from its subsidiary Social Point. Net income for the quarter came at roughly $89 million, up 91% year-over-year. As at the end of the second quarter, Take-Two had $2.3 billion in cash and short-term investments.

Forecast

For the third quarter of this year, Take-Two is forecasting revenue of between $750 million to $800 million. For the entire year, the gaming company is forecasting revenue of between $2.8 billion to $2.9 billion and a net income of between $349 million to $380 million.