TakeTwoLogo 31 Jul

Take-Two has revealed its ‘better than expected’ results for its first quarter of its 2014 fiscal year. The firm reported a loss of $61.9 million, significantly lower than the same period last year which was at $111 million.

Net revenues for the quarter which ended June 30th, was $142.7 million, compared to $226.1 million for the same period last year which benefitted from the release of both Max Payne 3 and Spec Ops: The line. Take-Two reported that Borderlands 2, NBA 2K13, Grand Theft Auto IV and BioShock Infinite were the biggest contributors to the firms revenue in the quarter. Take-Two also reported that revenue from digitally delivered content has grown 128 percent year-over-year.

“Our better-than-expected first quarter results demonstrate that the market remains strong for the highest-quality interactive entertainment,” CEO Strauss Zelnick said, in part. “We continue to benefit from robust demand for our recent genre-leading releases, iconic catalog titles and growing portfolio of innovative digitally delivered offerings.”

“With Grand Theft Auto V launching on September 17th, followed by the releases of NBA 2K14 and WWE 2K14, fiscal 2014 is poised to be one of our best years ever. Looking ahead, we are well-positioned to capitalize on the opportunities presented by the upcoming launches of the next-generation consoles. We have an extensive development pipeline, highlighted by proven franchises and groundbreaking new intellectual property.”

(via CVG)