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Take-Two's big franchise focus paying off
Take-Two's big franchise focus paying off
May 13, 2013 | By Kris Graft




Fourth Quarter

Take-Two's focus on big triple-A franchises paid off for its latest financial quarter.

Irrational Games' BioShock Infinite drove revenues to $300 million for the fourth fiscal quarter ended March 31. That's up from $148.1 million for the same quarter a year ago.

Profits were $21.2 million, up from the $66 million loss reported for the comparable quarter last year.

Digital sales saw a 192 percent increase year-over-year, with digital sales making up 27 percent ($81.8 million) of total non-GAAP revenue.

Full Year

For the full year, Take-Two reported revenues of $1.21 billion, up from $825.8 million last year. Annual net loss was $31.2 million, an improvement from last year's net loss of $107.7 million.

Top-selling games for the year were Borderlands 2, NBA 2K13, BioShock Infinite, Max Payne 3, Grand Theft Auto IV, XCOM: Enemy Unknown and Red Dead Redemption.

Investors were pleased with the quarterly report, with shares rising as high as 6 percent in after hours trading on the Nasdaq.

Looking ahead, Take-Two expects the current year to be a big one, with Grand Theft Auto V from Rockstar Games slated to arrive in September.

More information can be found on Take-Two's investor website.


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Comments


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Michael Joseph
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What's crazy is you have 1.21 billion in revenues for the year and you still have a net loss of 31.2 million.

Where the hell is all that money going? It feels like the type of creative accounting you see in Hollywood.

http://www.techdirt.com/articles/20121018/01054720744/hollywood-a
ccounting-how-19-million-movie-makes-150-million-still-isnt-profi
table.shtml

an interesting read by the way... even film makers are talking about going indie to avoid getting screwed by the corporate studios.

Johnathon Swift
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This is what I'm wondering, I wish someone would tell me.

Tomb Raider did poorly because it sold 3 million copies at launch? That's over a hundred million dollars in money directly to the publisher, AFTER all the production and transportation and retail cuts are taken into account. How can that lose money, what happened? Unless they spent fifty million to make it and another fifty million to advertise it, it doesn't seem to add up.

What happened to Take Two's financials? Multiple multi million copy selling games of the fiscal year, only one big budget relative disappointment, is all that other money sitting in accounts on the Maritius and Cayman islands, hanging out with the money from Google and Apple?


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