Take-Two Q1 Financials - GTA V ‘TBA’
The Take-Two Interactive Q1 financials are out. However, all eyes were on a release window for Grand Theft Auto V. Unfortunately, it remains ‘TBA’.
The investor call revealed that Grand Theft Auto V is making “substantial progress” and is “in full development” as we’d hoped! When asked about the release date for the game, Strauss Zelnick said the following:
"We haven’t talked about a release date, so we can’t talk about the credibility of a release date we haven’t announced."
Zelnick responded similarly when asked about Agent, a game that hasn’t been talked about properly since E3 2009.
Here are some key facts and figures revealed today:
- Net revenue down from $334.4m in Q1 2011 to $226.1m in Q1 2012.
- Loss of $110.8m recorded.
- Slow sales of Spec Ops: The Line and Max Payne 3 in the quarter are blamed.
- Max Payne 3 sold more than 3 million units.
- Borderlands 2 pre-orders are third highest in Take-Two history.
- Catalog sales up 50% compared to last year - account for 26% of net revenue.
- Revenue from digital content grew 33% compared to last year - 14% of all net revenue.