As July winds down, many of the major publishers have been participating in financial calls about the first quarter of the 2013 fiscal year, including Take-Two. The house of such franchises as Grand Theft Auto and Borderlands discussed a disappointing start to the fiscal year, yet the company remains optimistic about what’s to come in the following months.
For the first quarter, Take-Two earned $226.1 million, which is around a third less than last year’s $334.4 million. Even more disappointing news came with the profit earnings, down from $123.2 million to only $39.4 million this year.
As a result, Take-Two has adjusted their projected yearly earnings marginally downward. Though the company reported in May they foresaw a $1.75 – $1.85 billion cume, Take-Two lowered the projections to $1.7 – $1.8 billion. With major titles like BioShock Infinite, Borderlands 2 and RipTen’s Game of the Show for E3 2012, XCOM: Enemy Unknown, the publisher has more than a few opportunities to meet their expectations.
Titles like Max Payne 3, which shipped three million copies but sold less than had been hoped, and Spec Ops: The Line contributed the most to the first quarter’s earnings. The revealed figures also demonstrated a 33% increase in digital revenue, which Take-Two certainly is making an important aspect of the business, as evidenced by early online sales for titles like Spec Ops.
Regardless, Take-Two is looking toward the future in a positive manner, mentioning that Borderlands 2 has amassed the third highest number of pre-orders in the company’s history, behind Grand Theft Auto IV and Grand Theft Auto: San Andreas. Unfortunately for now, however, Take-Two is still listing Grand Theft Auto V as “TBA” for playable platforms and the release date. In the meantime, the company has a number of high-profile titles on the horizon that are sure to find comfortable places atop the sales charts.