Take-Two quarterly revenue sees significant decline

Take-Two has reported better than expected” results for the first quarter of its current fiscal year, despite seeing a significant decline for the period.

The firm earned $142.7m in total revenue during the three-month stretch ending on June 30th, a year-over-year decline of 37 per cent.

The decline was expected due to last year’s first quarter releases of Max Payne 3 and Spec Ops: The Line driving numbers up against a release-free period for the publisher.

Still, Borderlands 2, NBA 2K13, Grand Theft Auto 4 and BioShock Infinite — along with the games’ various DLC – helped the company beat its quarterly projections; and it wasn’t all negative numbers: Non-GAAP revenue from digital content grew by 128 per cent, year over year.

With Take-Two properly bracing itself for the down quarter, the company now looks to be in great shape with its remaining release schedule – which includes Grand Theft Auto V.

CEO/chairman Strauss Zelnick specifically made sure all eyes were pointed squarely forward to the release of GTA V in September, along with new entries for a pair of major licensed franchises within the firm’s fiscal 2014.

"With Grand Theft Auto 5 launching on Sept. 17, followed by the releases of NBA 2K14 and WWE 2K14, fiscal 2014 is poised to be one of our best years ever," said Zelnick.

"Looking ahead, we are well-positioned to capitalize on the opportunities presented by the upcoming launches of the next-generation consoles."