Take-Two reports Q1 FY2014 results
Results better than expected, financial outlook improved
Take-Two Interactive Software has reported better-than-expected financial results for fiscal first quarter 2014, ended June 30, 2013. In addition, the Company increased its financial outlook for fiscal year 2014, ending March 31, 2014, and provided its initial financial outlook for Q2 FY2014.
For fiscal first quarter 2014, net revenue was $142.7 million, as compared to $226.1 million for fiscal first quarter 2013, which had benefited from the releases of Max Payne 3 and Spec Ops: The Line.
The largest contributors to net revenue were offerings for Borderlands 2, NBA 2K13, Grand Theft Auto IV, and BioShock Infinite - which shipped 4 million units since launch a few months ago. Revenue from digitally delivered content grew 128 year-over-year and accounted for a record 52 of net revenue.
The company's major upcoming titles include The Bureau: XCOM Declassified (August), Grand Theft Auto V (September), NBA 2K14 (October) and WWE 2K14 (October).
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