Take-Two has released its first quarter earnings for fiscal year 2015, and despite having next to no releases in the quarter the company exceeded expectations amidst a revenue slide from last year at the same time.
Net revenue for the company dropped from $142.7 million to $125.4 million, with the biggest news being that Evolve has been delayed
until February 10, 2015. Take-Two recorded a loss of $35.4 million in this quarter, an improvement from the $61.9 million loss in the same quarter last year. Digital revenue, a growing part of Take-Two's portfolio, is up year-over-year and represents 64 percent of total revenues, an increase from 51 percent last year.
During its earnings call today, Take-Two announced that the fifth mainline installment in Grand Theft Auto has surpassed 34 million shipped units
since its release last year. This marks an extra one million shipped since the firm's last financial release, a huge feat for an extremely well done game. Publisher 2K has revealed during Take-Two's financial earnings report that Borderlands 2 continues to be the company's top selling title, with more than 10 million units shipped
since its release.
"Our view is that if you give consumers what they want, they come out for it," President Karl Slatoff noted during the call. "Our catalog sales have done very well – as we announced in this quarter, it's one of the key reasons we were able to beat in the quarter. We have a lot of faith in the Borderlands franchise. There's still a huge install base of consumers; Borderlands is beloved .... We have very high hopes for The Pre-Sequel for current-gen platforms and PC, indeed. But it will be reliant on quality, and we expect to deliver a really high-quality game."