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Take-Two Interactive reports rising revenues for Q2 2014

Take-Two Interactive released the results for its Q2 fiscal year, which indicate a rise in Non-GAAP net revenue following Grand Theft Auto 5's launch.

The company's GAAP 2014 net revenue came in at $148.8 million in the second quarter, which runs from July 1 to Sept. 30, as opposed to last year's $273.1 million. Earnings do not include Grand Theft Auto 5, which launched its online component, Grand Theft Auto Online, after the quarter's end. The Non-GAAP revenue, which made a huge jump from from the fiscal second quarter last year, does include Grand Theft Auto 5. Revenue topped $1.27 billion, overshooting a previous $288 million.

The report credits Grand Theft Auto 5 as the largest contributor to Non-GAAP earnings, while sales of content from titles such as Borderlands 2, Sid Meier's Civilization and NBA 2K13 contributed a smaller share. Non-GAAP income is significantly higher as well; Take-Two reports $325.6 million this year, compared to last year's $10.2 million.

Since July of this year, Take-Two has launched titles from Rockstar and 2K, including Grand Theft Auto 5, Borderlands 2: Game of the Year Edition, The Bureau: XCOM Declassified and WWE 2K14.

Take-Two predicts to pull in anywhere from $2.2-$2.3 billion in Non-GAAP net revenue by the end of the fiscal year.