Take-Two Interactive announced its latest financial results for the last fiscal quarter that ended on June 30. The game publisher, who releases games under the 2K Games, 2K Sports and Rockstar Games brands, announced via a press release it had generated $334.4 million for the quarter. That was down from $375.4 million for the same period a year ago and also was lower compared to what Wall Street analysts had expected. Take-Two had a GAAP loss of $8.6 million for the quarter compared to a profit of $27.4 million for the same period a year ago.
Take-Two is already predicting that it will only have revenues of between $70 million to $85 million for the current quarter that ends on September 30. According to Reuters thats well below the estimates of $195 million that Wall Street analysts were expecting. Take-Twos stock price went down 4 percent in after hours trading on this news.
Take-Twos revenue sales were generated in part due to LA Noire, the years-in-the-making open world crime action game from developer Team Bondi and Take-Twos Rockstar Games brand. Take-Two said today that the game has now sold over 4 million copies worldwide for the Xbox 360 and PS3 console versions. A PC port is due out later this fall. Take-Two didnt comment on specific sales number of its other major game released in the quarter, the long awaited first person shooter Duke Nukem Forever. However, Take-Twos CEO Strauss Zelnick insisted that the critically panned game was "profitable for Take Two" in a statement during the companys conference call with analysts.