Take-Two profits shrink to $14.2m

Rockstar and 2K parent Take-Two has reported a 65 per cent drop during its fiscal Q3 ending December 31st last year, which equates to $14.2m. The company generated sales of $236.3m during October, November and December, which is a 25 per cent year-on-year drop when compared to the $334.3m acquired during the same timespan last year.

But none of the above were unexpected, according to company CEO Strauss Zelnick.

“During the fiscal third quarter, we continued to execute strategically, creatively and operationally,” said Zelnick. “We delivered results that were solidly within our expectations, driven by strong holiday demand for NBA 2K12, our popular catalogue titles and digital offerings.”

According to Take-Two, the titles that performed the strongest were NBA 2K12Grand Theft Auto (historical iterations), Red Dead Redemption, Midnight Club: Los Angeles, Borderlands and L.A. Noire. A solid line-up that risks being densely overshadowed by two of the biggest releases this year, those being Max Payne 3 and Grand Theft Auto V, obviously.

“Take-Two’s future is extraordinarily promising,” continued Zelnick. “We have a proven strategy focused on building compelling interactive entertainment franchises, the strongest development pipeline in the company’s history and ample resources to pursue our many growth opportunities.”