Take-Two Financials Plummet, Posts $41m Loss
Quarterly income figures take a battering.
Take-Two has always had to carry around the myth that it would suffer without a Rockstar title in its lineup. But the publisher is probably wishing that Max Payne 3 isn't so far away - it's just posted a loss for the nine month period ending 31st December 2011 of $41.7 million.
That's quite a drop, when you consider that in the same period in 2010 it posted $76.2 million in profit.
The company's third quarter figures in particular make for some grim reading. Net revenue is down to $236.3 million compared to $334.3 million during the same period a year ago. GAAP Gross Profit for the three months ending 31st December 2011 fell to $109,858 compared to $145,609 during the same period in 2010.
"The strongest contributors to net revenue in the third quarter were the release of NBA 2K12; catalog sales led by the Grand Theft Auto franchise, Red Dead Redemption, Midnight Club Los Angeles and Borderlands; and continued sales of L.A. Noire," reads a company statement.
"Digitally delivered content accounted for 11% of net revenue, driven by offerings for the Grand Theft Auto franchise — particularly the Grand Theft Auto III — 10th Anniversary Edition for iOS and Android, Red Dead Redemption, Borderlands and L.A. Noire."
That's quite a drop, when you consider that in the same period in 2010 it posted $76.2 million in profit.
The company's third quarter figures in particular make for some grim reading. Net revenue is down to $236.3 million compared to $334.3 million during the same period a year ago. GAAP Gross Profit for the three months ending 31st December 2011 fell to $109,858 compared to $145,609 during the same period in 2010.
"The strongest contributors to net revenue in the third quarter were the release of NBA 2K12; catalog sales led by the Grand Theft Auto franchise, Red Dead Redemption, Midnight Club Los Angeles and Borderlands; and continued sales of L.A. Noire," reads a company statement.
"Digitally delivered content accounted for 11% of net revenue, driven by offerings for the Grand Theft Auto franchise — particularly the Grand Theft Auto III — 10th Anniversary Edition for iOS and Android, Red Dead Redemption, Borderlands and L.A. Noire."
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