Take-Two Numbers Fall, Red Dead Hits 13 Million Sold
With no big-name titles, the numbers typically take a dive.
Take-Two Interactive has announced their third-quarter financials, and their net revenue was down to $236.3 million, which is a 40% drop from last year's nice $334.3 million.
Unsurprisingly, Take-Two attributed the fall-off to a lack of high-profile titles; during the previous third quarter, Red Dead Redemption and Grand Theft Auto IV: Complete were still selling quite well. Furthermore, they say the NBA lockout affected sales as well. So net income came in at only $29 million, which is way down from the $49.5 million Take-Two enjoyed the previous year.
The biggest contributors to Take-Two's bottom line were NBA 2K12 (4 million units) and L.A. Noire (5 million), and they offered updated lifetime sales of Red Dead: 13 million. Take-Two added that digital content comprised 11% of the company's total net revenue; this was led by Grand Theft Auto III for iOS and Android devices. Add-ons for RDR, GTA, and L.A. Noire helped, too.
Take-Two was forced to adjust their predictions for the fourth quarter and fiscal year (for the latter, instead of around $1 billion, they only expect between $790 and $840 million). Max Payne 3 was supposed to have arrived in March but with its delay, Take-Two had to rethink things. However, with MP3 coming later in the new fiscal year along with Grand Theft Auto V and Bioshock Infinite...well, maybe now's the time to pick up some TTWO stock.
2/2/2012 8:36:29 PM Ben Dutka