Wed, Oct 31, 2012 | 13:23 GMT
Take-Two financials: Borderlands 2 ships 5 million, Q2 loss forecast
Take-Two has posted its Q2 financial forecast, suggesting a loss of $12 million compared to the same period last year.
CVG reports that between July to September the company posted revenue of $273 million – a significant increase over last year’s $107 million. However, when adjusted for expenses and other outgoings, the grand total equated to a loss of $12.4 million, where last year saw Take-Two posting a $47 million profit.
The group confirms that the official Take-Two investor call will take place tonight at 4:30 p.m. Eastern Time. We will have our eyes on it for new information on GTA 5 and other Take-Two licenses.
In an official Take-Two statement Strauss Zelnick, Chairman and CEO of Take-Two had this to say, “Take-Two’s second quarter revenue and earnings exceeded our outlook, driven by the breakout success of 2K’s Borderlands 2 and robust demand for our catalog and digitally delivered offerings.
“Our business continues to fire on all cylinders, led by terrific early results from 2K’s NBA 2K13, and the outlook for our upcoming releases such as BioShock Infinite is stronger than ever.”
“As a result, we continue to expect to deliver revenue growth and Non-GAAP profits in fiscal year 2013. Moreover, with Grand Theft Auto V slated for spring 2013, we are poised to generate substantial revenue and earnings growth in fiscal year 2014.”
Take-Two also highlights the company’s digital output as a real business-driver, stating that online sales equate to $288 million, resulting in $10 million in profit.
The release of GTA 5 looms for Spring 2013 and it will be interesting to see how its eventual release shakes up the group’s financial standing. What’s your prediction?