Take-Two Reveals First-Quarter Loss

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Take-Two InteractiveTake-Two Interactive, the company that includes labels such as Rockstar Games, announced its financial results for its fiscal first quarter ended June 30, 2011. Read on for more details...
For its fiscal first quarter ended June 30, 2011, Take-Two Interactive reported a net loss of $8.713 million, compared to net income of $26.314 million in the same quarter the previous year. The company chose not to dwell on the poor results, arguing that the quarter was "...in line with our expectations."

Take-Two did report that "Digitally delivered content accounted for $24.6 million of net revenue, up 49% year over year..." That was primarily in the form of add-ons for the companies various franchises. The company also reported that L.A. Noire has sold more than four million copies. Borderlands (which will receive a sequel) apparently sold 4.5 million copies.

Interestingly, the critical reception of Duke Nukem Forever was so poor that Chief Executive Officer Strauss Zelnick told investors that the game was profitable for Take-Two. We want to take that statement at face value, but without sales numbers to back that up, FI suspects Zelnick is disregarding Take-Two's sunk costs from the title's long development history.

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This page contains a single entry by Editor published on August 8, 2011 4:18 PM.

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