Take-Two reports $62m loss, results ‘better than expected: It’s all about money.

July 31, 2013

This is significant cut to losses in the same period last year, which hit almost $111 million but i would say that Company CEO Strauss Zelnick it’s pretty confident about what’s going to happen next.

Net revenues for the quarter, ended June 30 2013, was $142.7 million, down from $226.1 million the prior year which benefitted from a duo of major launches in the form of Max Payne 3 and Spec Ops: The Line.

Borderlands 2, NBA 2K13, Grand Theft Auto IV, and BioShock Infinite were named the biggest contributors to revenues in the quarter, while the firm reports that revenue from digitally delivered content grew 128 per cent year-over-year.

Company CEO Strauss Zelnick commented, “Our better-than-expected first quarter results demonstrate that the market remains strong for the highest-quality interactive entertainment. We continue to benefit from robust demand for our recent genre-leading releases, iconic catalog titles and growing portfolio of innovative digitally delivered offerings.”

He went on, “With Grand Theft Auto V launching on September 17th, followed by the releases of NBA 2K14 and WWE 2K14, fiscal 2014 is poised to be one of our best years ever. Looking ahead, we are well-positioned to capitalize on the opportunities presented by the upcoming launches of the next-generation consoles. We have an extensive development pipeline, highlighted by proven franchises and groundbreaking new intellectual property.”


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