Take-Two reports loss; Duke 'projected' to be profitable
Take-Two Interactive has posted its first quarter results for fiscal 2012, reporting a loss of $8.6 million versus a $26.3 million profit during its last reported April-June period.
In Take-Two Interactive's first quarter report for its fiscal 2012, the company posted a downturn in net revenue of $334.4 million versus $375.4 million in its pre-shifted, fiscal 2010 report.
Take-Two's first quarter, fiscal 2012 shows a loss of $8.6 million. Strong sales of Red Dead Redemption during its last reported April-June gave the the company a net income profit of $26.3 million, putting the current reported period in a challenging position.
According to Take-Two, Red Dead Redemption has shipped over 11 million units since its release in May 2010, a figure which also includes 2 million units of the Undead Nightmare retail disc.
Despite the loss, Take-Two had a number of highlight releases for the quarter. "Although it received disappointing reviews from critics," company CEO Strauss Zelnick said of Gearbox's Duke Nukem Forever, "the release is projected to be profitable for Take-Two." L.A. Noire and NBA 2K11 were among the other bright spots for the publisher.
Take-Two said it expects non-GAAP (Generally Accepted Accounting Principles) income to exceed $2 per share in fiscal 2012 (running from April 1, 2012, through March 31, 2013). When asked whether or not it would be possible to achieve this goal without a new Grand Theft Auto during an investor relations call, Take-Two instead decided to highlight upcoming titles, such as BioShock Infinite and the recently announced Borderlands 2.
Note: Take-Two had previously shifted its reporting calendar to a new timeline, hence the comparison to fiscal 2010.
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replyXav de Matos posted a new article, Take-Two reports profit drop; Duke 'projected' to be profitable.
Take-Two Interactive has posted its first quarter results for fiscal 2012, reporting a loss of $8.6 million versus a $26.3 million profit during its last reported April-June period.-
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Rockstar spends a bazillion dollars on marketing and production.
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I'm not an economist or anything so this is probably dumb and wrong, but here goes.
This is the summer lul. Not very many big games are coming out at this time, so most are being paid for and in development. These games will likely sell great when they come out, but right now they're losing money because the people working on them have to get paid and such. Duke (as far as I know) was the "big" game in that quarter. LA Noire was in the previous quarter, and I don't know what else they had coming out now-ish. Duke (I'm pretty sure) sold under what they had predicted, which accounts for quite a bit of the loss. -
No RDR PC.
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cocaine ain't cheap.
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Anyone else see the grand theft auto v official webpage? I typed in http://gtav.com and a website pops up now for GTA V. They had on there that the game will be released in 2012, and set in Los Angeles. I really hope they don't do LA for the game, I prefer something overseas so the game has a different feeling. Though if they did do LA it would be cool to have some rappers and cool actors in the game. Slap around a few of those bums!
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