Take-Two Interactive announced its financial results for its second fiscal quarter ended September 30, 2011. For the quarter, Take-Two Interactive reported a substantial net loss. Read on for more details...
For the second fiscal quarter ended September 30, 2011, Take-Two Interactive reported a net loss of $47.371 million compared to net income of $3.339 million in the same quarter the previous year. Take-Two Interactive's management tried to emphasize that the results were better than expected, the usual line when management is trying to distract from how much the results suck. If this leads you to wonder why Take-Two leadership is so well compensated, read this
While L.A. Noire performed well for the company, it didn't perform as well as games released in the same period last year such as Red Dead Redemption. It also wasn't enough for Take-Two Interactive to actually turn a profit.
Take-Two Interactive didn't have any major releases in the latest quarter. Take-Two also made clear that the upcoming reboot of X-COM has been postponed until the next fiscal year (after April 1, 2012).