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Take-Two raises yearly fiscal outlook

by on July 30, 2013
 

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Take-Two has reported strong sales behind BioShock Infinite, but sales still falter behind last year.

The company ended the first quarter with $142.7 million in net revenue, which is down from $226.1 million last year. In addition, the first quarter saw a $61.9 million net loss, although $29.6 million of the loss was contributed to a canceled 2K game.

Sales were attributed mainly to BioShock Infinite, which has sold more than 4 million units, as well as Borderlands 2, NBA 2K13 and Grand Theft Auto 4.

The company has also increased their fiscal outlook with Grand Theft Auto 5 and NBA 2K14 coming out this year, along with WWE 2K14.

“With Grand Theft Auto 5 launching on September 17, followed by the releases of NBA 2K14 and WWE 2K14, fiscal 2014 is poised to be one of our best years ever,” CEO Strauss Zelnick said. “Looking ahead, we are well-positioned to capitalize on the opportunities presented by the upcoming launches of the next-generation consoles.”

The outlook for fiscal year 2014 now sits at $1.875 billion, up from the original $1.775 billion.

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