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Take-Two reduces losses as  Borderlands 2  ships 5M

Take-Two reduces losses as Borderlands 2 ships 5M

October 31, 2012 | By Mike Rose

October 31, 2012 | By Mike Rose
More: Console/PC, Business/Marketing

Take-Two Interactive today reported reduced losses for the last quarter, while reducing its financial outlook for the full fiscal year to reflect its revised release schedule.

Borderlands 2 in particular helped the company move towards profits, shipping over 5 million units to date, while NBA 2K13 sold through 49 percent more units than the franchise's previous best-seller NBA 2K11.

Take-Two also noted that other new releases like XCOM: Enemy Unknown and DLC for Borderlands 2 have seen strong sales. The company's digital content sales grew by 108 percent year-over-year and accounted for 20 percent of the company's revenue for the quarter.

Elsewhere, past titles like Grand Theft Auto IV and Red Dead Redemption from Rockstar and the Sid Meier's Civilization franchise continue to contribute greatly to the company's revenues, it said.

With BioShock Infinite on the way before the current fiscal year is over, and Grand Theft Auto V penned for a release in Spring 2013, Take-Two CEO Strauss Zelnick noted that the next fiscal year should start with a bang for the company.

For the quarter ended September 31, 2012, Take-Two reported revenues of $273.0 million, up compared to revenues of $107.0 million year-over-year, and losses of $12.5 million, compared to losses of $47.4 million year-over-year.

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