Take Two Q1 Fiscal Sales Down 37 Percent, Borderlands 2 to Become Highest Selling 2K Games Title
A lack of major releases in the three months ending June 30th have contributed to the drop.
Take-Two Interactive announced its first quarter fiscal figures today. First on to the good news: After the earnings call, chairman and CEO Strauss Zelnick gave some up to date figures for games like BioShock Infinite which sold more than 4 million copies till date, and Borderlands 2 which has more than 7 million units. It will become the biggest success the company has seen under the 2K Games label.
However, for the three months till June 30th, the publisher saw a 37 percent year-over-year drop in sales, down $142.7 million. There has been a net loss of $61.9 million, which is still less than the $110.8 million loss in the previous year’s quarter. Of course, given how the publisher hasn’t had any new releases compared to the previous year’s first quarter, which had Max Payne 3 and Spec Ops: The Line.
Sales were largely due to games such as Borderlands 2 and is DLC packs, NBA 2K13, Grand Theft Auto IV, and BioShock Infinite with digital download sales accounting for 52 percent of revenue and catalog sales making up 60 percent.
Interestingly, there was $29.6 million impairment for development on a 2K Games title, which hasn’t been revealed as of yet. Maybe due to the reboot of The Bureau: XCOM Declassified? Regardless, with the release of Grand Theft Auto V this September, Take Two’s woes won’t last for long.