Take-Two financials – revenue hits $825.8 million, Max 3 sells-in nearly 3 million units
Take-Two has released its results for Q4 and year end 2012, and for the year ending March 31, 2012, net revenue was $825.8 million, as compared to $1,136.9 million for the same period the prior year. Losses came in at $107.7 million, compared to $53.8 million in losses the prior year.
The strongest contributors to revenue in FY12 were L.A. Noire, NBA 2K12, the Grand Theft Auto franchise, Duke Nukem Forever and Red Dead Redemption.
Digitally delivered content accounted for 13% of net revenue, as compared to 9% in FY11, driven by the Grand Theft Auto franchise, Red Dead Redemption, the Civilization franchise, Borderlands and L.A. Noire.
For Q4, net revenue was $148.1 million, compared to $182.3 million year-over-year, which benefited from the post-launch performance of Red Dead Redemption.
Q4 losses came in at $66 million, compared to $22.4 million for the same period the year prior.
The strongest contributors to net revenue in Q4 were new titles including: NBA 2K12, Major League Baseball 2K12 and The Darkness II, as well as catalog sales led by the Grand Theft Auto franchise and Red Dead Redemption.
Digitally delivered content accounted for 19% of revenue, compared to 15% in Q4 2011, which was driven by offerings for the Grand Theft Auto franchise, the Civilization franchise, Red Dead Redemption, Borderlands, NBA 2K12 and L.A. Noire.
“ Fiscal 2012 was a year of creative, operational and strategic achievement by our Company,” said CEO and chairman Strauss Zelnick. “We delivered groundbreaking titles, including L.A. Noire and NBA 2K12, which set new standards for excellence; grew our revenue from digitally delivered content and mobile offerings; made substantial progress on our online gaming initiatives; and bolstered our already strong liquidity through a convertible notes offering. While our financial results were disappointing, the decisions we made position Take-Two for growth and profitability both this year and over the long-term.
“ Fiscal 2013 kicked off with the successful launch of Max Payne 3, which received outstanding reviews and promises to be another hit for Rockstar Games. We have a fantastic lineup of upcoming releases for the balance of the year and the strongest development pipeline in the company’s history. ”
Max Payne 3 sold-in approximately 3 million units during its initial launch on consoles, according to the firm, which also reiterated the launch of the game on PC, which is June 1.
NBA 2K12 was the highest rated title in the history of 2K Sports with an average Metacritic score of 90 and for the second year in a row, sold-in over 5 million units.
The BioShock franchise which has sold-in over 9.5 million units to date.
Reiterating its upcoming line-up, the firm torched upon the following release dates:
XCOM: Enemy Unknown – October 9 in North America and October 12 internationally.
BioShock Infinite is now planned for launch on February 26, 2013.
Borderlands 2 – September 18 in North America and September 21 internationally.
Spec Ops: The Line – June 26 in North America and June 29 internationally.
Sid Meiers Civilization V: Gods & Kings – June 19 in North America and June 22 internationally.
XCOM – releases during fiscal year 2014.
NBA 2K13 – October 2012
XCOM: Enemy Unknown – October 2012
For fiscal year 2013, the firm expects revenues for Q1, ending June 30, 2012 to hit between $225 to $275 million, and between $1.75 to $1.85 billion for FY13 ending March 31, 2013.
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