Take 2 Really Needs a Hit

Profits down for the last quarter

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Take 2 Really Needs a Hit
As well as saying that they've not got the faintest idea when GTA V is coming out because Rockstar hasn't told them, Take-Two's management have spun their bad 2013 first financial quarter in a jolly way.

The facts are that: "For the first quarter of fiscal 2013, net revenue was $226.1 million, as compared to $334.4 million for the first quarter of fiscal 2012. GAAP loss from continuing operations was $110.8 million, or $1.30 per diluted share, as compared to $8.6 million, or $0.11 per diluted share, for the year-ago period." Basically, not great. But...

Says Strauss Zelnick, Chairman and CEO of Take-Two, "Although our first quarter results were below expectations due to lower-than-anticipated sales of Spec Ops: The Line and Max Payne 3, the outlook for our slate of upcoming releases is stronger than ever. Early consumer enthusiasm suggests robust demand for our extraordinary lineup of upcoming releases, particularly Borderlands 2, NBA 2K13 and BioShock Infinite. We continue to expect fiscal 2013 to be one of the best years in Take-Two's history.

"Our long-term strategy is to continue to grow our revenues and reduce the volatility of our results by complementing our core console business with digitally delivered content for mobile and online platforms. During the current fiscal year we have made substantial progress, including launching an open beta for NBA 2K Online in China; expanding our lineup of core titles for tablets and smartphones with Max Payne Mobile; releasing our first domestic mobile social game - COMEDY CENTRAL'S Indecision Game; and delivering our first mobile social game for Japan - NBA 2K All Stars. While our core console business has faced short-term cyclical headwinds, we remain exceedingly optimistic about our Company's long-term prospects for growth and profitability."

There we go, Max Payne 3 sucked but good things are coming.

Source: Take-Two
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Comments

Ergo 21 Sep 2012 15:46
1/1
And this is new how? This is how Take 2 operates: make a bazillion bucks on GTA and then run the entire bloody company on it for the next 3-4 years.

Yawn, wake me when this isn't the same ol', same ol' Spong.
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