Publisher's net revenue dips 40 percent to $236.3 million during third quarter; open-world Western and hardwood sim reach new sales milestones.
Take-Two didn't have a happy holiday. Today, the publisher announced that net revenue for the three months ended December 31 came in at $236.3 million, down 40 percent from last year's holiday haul of $334.3 million.
Take-Two attributed the downturn to a lack of big-name games like Red Dead Redemption: Undead Nightmare and Grand Theft Auto IV: Complete, which were selling well this time last year. Additionally, Take-Two said the NBA lockout negatively affected sales during the period.
Net income for the period stood at $29 million, down sharply from the $49.5 million posted during the same period a year prior.
According to Take-Two, the biggest contributors to the company's net revenue during the period were NBA 2K12 and L.A. Noire, as well as catalog sales of Grand Theft Auto, Red Dead Redemption, Midnight Club Los Angeles, and Borderlands.
Specifically, Take-Two said Red Dead Redemption life-to-date sales have climbed to 13 million units, NBA 2K12 sales have reached 4 million units, and L.A. Noire unit sales are closing in on 5 million units.
Take-Two said digitally delivered content made up 11 percent of total net revenue for the period, led by Grand Theft Auto III for iOS and Android devices. Sales of add-on content from the Grand Theft Auto, L.A. Noire, and Red Dead Redemption franchises also were big digital contributors for Take-Two's bottom line.
On a nine-month basis, Take-Two's revenues were also down. For the nine-month period ended December 31, the company reported net revenue of $677.7 million, down from $954.6 million from a year ago. Take-Two also posted a net loss of $8.4 million for the period, compared to a gain of $108.8 million for the year prior.
Take-Two also updated its fourth-quarter and full fiscal year outlooks. The company said it now expects net income for the quarter ending March 31, 2012, to come in at $112 million to $162 million, down from $225 million to $275 million. And for the full fiscal year, Take-Two said it now expects to haul between $790 and $840 million, down from the $1 billion to $1.1 billion previously forecasted. This downturn was attributed to the delay of Max Payne 3.
Eddie Makuch (Mack-ooh) is a News Editor at GameSpot. He works out of the company's Boston office in Somerville, Mass., and loves extra chunky peanut butter.
@Rocker6 ok, thanks for the reply. Rockstar should definitly release this game for PC, if not, at least mention that they're not going to. There are hundreds of thousands of PC gamers out there waiting to know wether or not there's going to be a PC version.
instead of moaning take 2 should push to have rockstar port the game to pc. no if or buts or complaining from console fans....people have been lamenting for this since the game came out and have yet to be heard.
@Gladiator_Sofi No info or anything,but many of us hope for and want PC port.Played the game on the PS3,but will immediately pick up the PC version if it ever gets released...
does anyone know if there will be a PC version of this game? I've heard so many great things about it and I'm really hoping for a PC version (I don't own a console), If anyone has any information on the subject please reply.
@buying1999 whether its true or not that the Xbox is better, its best to stop fighting over which console is better, in my opinion yes the Xbox is better, but i dont argue over which console is better anymore, i just say what i prefer and leave it at that, i suggest you do the same. its ok to have your opinion just dont go saying all these silly reasons why its better, you will get a lot of hate and its not very nice either, all you'll do is start wars with people. i have both console and there both awesome in my opinion.
@MJ12-Conspiracy I played through the single story and then maxed out my online rankings in first 10 days (played 10 to 14 hours per day). Never ran into a single bug, which is saying a lot for a newly released game. Played on XBox360 version. Perhaps you had connection issues which were causing the problems?
@buying 1999 Your such a blatant troll with such little knowledge or intelligence it a damn shame you have yet to be smacked.
Red Dead Redemption was awesome on the SUPERIOR Xbox 360. It had great high res textures, great draw distances, great frame rates, lots of alpha blended grass and foiliage, great implementation of SSAO, SUPERIOR shadows, great anti aliasing....None of that really applies to the overpriced internet ready blu ray player version though. "Xbox 360 is the BEST console EVER made." --John Carmack
@ Get_Shorty IMO, it's well worth the $50. It includes all released material, including DLC, on disk. I rarely pay full price for games anymore, but this is one of the few I did.
See i don't get it in a earlier comment i said i wanted it on PC and ppl thumbs me down, why were all gamers and this is a game that alot of PC people are missing out on. Why do people have to take sides PC is better no 360 is better no the PS3 is better, were all gamers who cares what we play on?
Is Read Dead R: GOTY Edition $30 yet so I can finally play it? I'm almost ready for this game... gotta get some others out of the way first.
@buying1999 The PS3 version is exactly the same as the Xbox version. But I get it, you are a Xbox fanboy. I tell you what mate, if you want SUPERIOR, buy a gaming PC.
Wow Red Dead Redemption was awesome on the SUPERIOR Xbox 360. It had great high res textures, great draw distances, great frame rates, lots of alpha blended grass and foiliage, great implementation of SSAO, SUPERIOR shadows, great anti aliasing....None of that really applies to the overpriced internet ready blu ray player version though. "Xbox 360 is the BEST console EVER made." --John Carmack
I think RDR is Rockstar's best game which is saying a lot because nearly all of their games are all time greats. 1. RDR 2. GTA San Andreas 3. GTA Vice City 4. GTA III 5. LA Noire 6. GTA IV - sorry, this is my least favorite of all their big GTA games. IMO a tad overrated. I hope GTA V doesn't become watered down. I thought IV was a little light in the customization options and the most restrictive GTA game ever made and it made it less fun.
I don't get RDR, is get's all this praise yet it's buggy and not that much fun.... When I had Gold when the game first came out and I went online with it my character would go invisible all the time and enemies could shoot me through canyon walls from the other end of the canyon....and there were other issues 1 year later, all title updates applied the game still has glitches, When Bonnie challenges you to a race in the campaign my horse got stuck in the ground 3 times in a row right near the finish line. I also had to restart a few times because my character would get stuck in walls or other objects...... The getting stuck in objects also happened online... Perfect game my eye......I hate the game, it was a waste of $60...
a fantastic game. admittedly, I spent WAY more time playing the online version than I did the (excellently gritting, brutal and enigmatic) single player story. I actually look back my time in this game like I was walking, living and breathing within it. THAT'S how good this was. Really sticks in the memory. spent MANY hours in fierce shootouts :) superb. Will look forward to another one hopefully one day!
Red Dead Redemption is one of the best games I ever played, when I bought it was expensive, but was worthy every cent.
I've been gaming since the 70s and no game has blown me away the way RDR did. I've 100%'d it and still want to play more!
@Gelugon_baat Well i don't hope there will be PC port I'm 75% sure there will be a PC port later this year or early 2013 Even Rockstar knows that there games are best played on PC -apart from a few like Warriors and Midnight Club -and I'm sure they will do it
When you actually stop to thing about the quality these studios put out.. Damn. Then you think of what's to come? May Payne 3, GTAV, Bully 2, and now doubt a new Red Dead. Frickin epic company. Love em to bits :)
the NBA lockout negatively affected sales? Were sales also negatively affected by the Israeli blockade? What about the Iranian Protests? No, wait I know... sales were negatively affected by teh suckage factor of the latest Twilight movie...
Initially Rockstar announced RDR on PC, PS3, and XBOX360 but later took it back. It was definitely in the original plans but was scrapped for some reason. In fact, a magazine article actually published with PC as one of the available platforms (can't remember which mag). They claimed at the time that there was too much piracy on the PC, but now that the console market has probably been nearly exhausted, I hope they see that PC would sell another 3-5 million units. It has been long enough to probably count that out, but of all the console games, this is the one I want the most for PC.
@firehawk998 Most of those were RockStar that you listed, but Take Two seems to have really great hits and then really bad misses with little to nothing in-between.
You can't keep revenue at a certain level when you have games like GTA in your portfolio. They don't release every year and they're bigger than life. Having 4 or 5 semi-big titles just isn't enough to keep the revenue stable. So hopefully the investors understand that this industry works differently than most where things can be viewed on an annual basis. Publishers should be comparing sales over periods of 5 years. Or better yet take their biggest title and make it key. So compare revenue from the 'GTA4 cycle 2007 - 2011' with 'GTA3 cycle 2002 - 2006' and with the soon to start 'GTA5 cycle 2012 - ?'
Red Dead Redemption is no doubt a great game but to be honest I don't really jump all over it screaming "GoTY" like most people. I still prefer GTA in general and would have personally chosen ME2 for 2010's "GoTY".
Played Red Dead on a friends Xbox and loved it, sadly I have a PC...wish it would port over, but alas if it was going to happen it would've by now...oh well, when does the Skyrim CK come out?
Take - Two is actually one of my favorite publishers out there. Not only they create great games like GTA, Red Dead, LA NOIRE but by playing them you can sure tell they took their time making these games and try to sell a complete product and their DLCs is actually pretty great and worth the cash. GTA 5, Bordelands 2 and hopefully Max Payne 3 will change their financial out come this year.
Wow - L.A. Noire is closing in on 5 mil. Good to see, that game provided a nice change of pace.
Never really cared for western games, at all. Then there was Red Dead Redemption. Fantastic game, that I popped in to play for a bit, a week or so ago. Still has some of the most gorgeous sunrises/sunsets I've ever seen in a game. Love that game!
Here's what happens in Grand Theft Auto V when you get off the beaten path and explore the sandbox at your own pace.
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