Take-Two Falls Short In Fiscal 2012, But GTAV Is "Making Progress"
Publisher Take-Two Interactive didn't hit their revenue and profit goals for fiscal year 2012.
The problem, as cited by Take-Two CEO Strauss Zelnick during a stockholder meetering, was the delay of several titles. This occurred for the sake of "additional development time" but of course, that affects the current bottom line. Said Zelnick:
"This was primarily due to our decision to postpone the release of several titles in order to allow for additional development time. Although our commitment to quality may occasionally affect near-term results, we believe it's the right approach for maximizing revenue and profits over the long-term."
Among those delayed was the hotly anticipated Bioshock Infinite, which was supposed to launch in mid-October. It has since been pushed to February 26. Then there's the heaviest hitter of all: Grand Theft Auto V. We still don't have a solidified launch date but many expect it to launch in the first quarter of 2013; Zelnick added that the game "is in full development and making substantial progress."
Well, our readers don't appear to be concerned.
9/20/2012 9:32:28 PM Ben Dutka