Take-Two Reports a Net Loss of $31.2 Million for Fiscal Year

For the fiscal year that ended on March 31, publisher Take-Two recorded a loss of $31.2 million on revenue of approximately $1.2 billion, the company announced last night. For the fourth quarter, the company raked in revenue of of $299.5 million, up from $148.1 million from the same period a year ago. Net income for the quarter was $21.2 million, up from a net loss of $66 million from the same period a year ago.

Irrational Games' BioShock Infinite was one of the company's big sellers for the quarter along with legacy sales of Grand Theft Auto 4, Red Dead Redemption and Civilization 5. Take-Two says that BioShock Infinite sold more than 3.7 million units since launching on March 26. Digital sales of Borderlands 2, Grand Theft Auto titles, NBA 2K13 and XCOM: Enemy Unknown, and the BioShock Infinite season pass also helped drive profits up for the quarter.

For the fiscal year ending March 31, 2014, Take-Two predicts revenues in the range of f $1.75 to $1.85 billion. Profits will be driven by Grand Theft Auto 5 – which will release in September. The company will also release its first WWE wrestling game later this year, and a line-up of next-generation titles are expected to be released.


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