Take-Two Interactive, the game studio behind the NBA 2K, Grand Theft Auto and Red Dead Redemption properties, on Wednesday reported significant growth in revenue in profits in its fiscal fourth quarter.
Earnings were spurred by a gaming boom brought on by the novel coronavirus pandemic, which forced people around the world to spend more time at home.
In its fourth quarter, which ended March 31, Take-Two saw revenue grow by 41 percent year-over-year to $760.5 million. Net income totaled $122.7 million, up 116 percent from a year ago.
The company's fiscal year 2020 revenue grew 16 percent to $3.089 billion, as compared to $2.668 billion in fiscal 2019. Net income increased 21 percent to $404.5 million, or $3.54 per diluted share, as compared.