Take-Two Q1 2013 results: GTA 5 release date TBA, $110.8 mil loss
Take-Two Interactive has had a very poor quarter where they have posted a $110.8 million loss, and this was due to poor performance of their two main titles they released last quarter – Max Payne 3 and Spec Ops: The Line.
Their CEO Strauss Zelnick was displeased with the results and said that he takes responsibility for it and this loss will be taken by the firm on the chin.
Net revenue was $226.1 million, and especially when compared to the same period last year they are down by at least $100 million in revenue considering they had posted $334.4 million. They had recorded a $8.6 million loss last quarter which was increased to $110.8 this quarter.
So their saviour GTA 5, which analysts have predicted to sell 20 million copies, bringing $1 billion in revenue doesn’t have a release date yet, but the game is in development.
“We just haven’t talked about a release date. So I can’t discuss about the existence of a release date we haven’t announced,” Zelnick said when asked by investors.
Max Payne 3 sold 3 million units worldwide and has under performed massively according to Take-Two.