Take-Two Delays Max Payne 3, Reports Losses
Quiet year leads to a cutting of profit forecast.
Looks like Take-Two bet too much of the farm on Major League Baseball, as the sports game’s poor performance at retail is singled out as one of the reasons for a slashing of its profit forecast. Worse news for the gaming population - Max Payne 3 has been pushed back.
What was once predicted to be an annual revenue of $975 million - $1 billion for the financial year ending 31st October 2009, is now a forecast of $950 - $975 million. Poor old Baseball got it in the neck for the most part of Take-Two's lowered financial expectations, but the company also said "inventory write downs in its distribution business primarily related to prior generation software" and “more difficult” retail conditions also had an impact.
What won’t help is the announcement that Max Payne 3 has been delayed until the fourth quarter of fiscal year 2010. However, Take-Two pointed at a few key titles in the pipeline for next year that it hopes will make up for that, including BioShock 2, Mafia II and Red Dead Redemption.
What was once predicted to be an annual revenue of $975 million - $1 billion for the financial year ending 31st October 2009, is now a forecast of $950 - $975 million. Poor old Baseball got it in the neck for the most part of Take-Two's lowered financial expectations, but the company also said "inventory write downs in its distribution business primarily related to prior generation software" and “more difficult” retail conditions also had an impact.
What won’t help is the announcement that Max Payne 3 has been delayed until the fourth quarter of fiscal year 2010. However, Take-Two pointed at a few key titles in the pipeline for next year that it hopes will make up for that, including BioShock 2, Mafia II and Red Dead Redemption.
Read More Like This