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Take-Two Loses $110.8M due to Low Spec Ops and Max Payne 3 Sales - News

by William D'Angelo , posted on 01 August 2012 / 9,487 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.

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darkknightkryta (on 01 August 2012)

I hate the fact that a game selling over 3 million isn't good enough...

  • +4
zumnupy10 (on 01 August 2012)

6-7 years of delopment time is too much and requires the game to sell much more than it actually can. This is clearly what happened with MP3.

  • +3
Fusioncode (on 01 August 2012)

How are they disappointed with Max Payne 3 sales? And I think Spec Ops would have sold a lot better were it not for the incredibly generic title. Apparently the narrative in the game is amazing.

  • +3
Panama Fusioncode (on 01 August 2012)

Back when Spec Ops came out during the 90s it wasn't too generic. But I agree it should have been marketed as a new IP.

  • +1
usrevenge (on 01 August 2012)

why they expected more is beyond me.

Who expected spec ops, a game that has been on hiatus for like a decade, to come back and be a hit seller, the demo wasn't even that good. It's one of those games that are rentals.

Max payne is also a pretty old series, many newer people never heard of it. It sold well, but with the crap online and very very short single player it's no surprise it didn't sell more. why buy a game when it is $60 that is fun for only 8 hours?

  • +3
withdreday (on 04 August 2012)

@ Fusioncode, Budgets for games are much higher these days, and looking at the dev time, I imagine they needed 5 million or more just to break even.

  • +1
SlayerRondo (on 03 August 2012)

Spec Ops was too short for my taste and the new Max Payne seemed to generic for my taste.
Honestly i feel as if Rock stars standards have dropped over the last couple of years and i hope that changes with the release of GTAV

  • 0
Iveyboi (on 01 August 2012)

We undertracked Max Payne by a million? lolz

  • 0
cusman (on 01 August 2012)

This is why a new IP like Red Dead Redemption carried less risk than trying to revive an older IP like Max Payne 3.

  • 0
oniyide cusman (on 01 August 2012)

um no that game is not a new IP, it is the sequel to Red Dead Revolver

  • +2