Take-Two Loses $110.8M due to Low Spec Ops and Max Payne 3 Sales - NewsWilliam D'Angelo , posted on 01 August 2012 / 8,249 Views
Take-Two Interactive has reported on its first quarter of its fiscal year 2013, which ended on June 30, 2012. The companies revenue reached $226.1 million, down from $334.4 million a year ago. Losses increased to $110.8 million, up from $8.6 million a year ago. $15 million of the loss was due to a "one-time contractual obligation."
"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," said Strauss Zelnick, Chairman and CEO of Take-Two. "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."
Take-Two has also announced that Max Payne 3 has sold over three million units to date and that despite those sales is still lower than what was expected. Other releases for the quarter include Spec Ops: The Line, the mobile games Max Payne Mobile and Sid Meier's Pirates!, and the Sid Meier's Civilization V expansion pack Gods and Kings.