Take-Two revenue up 155% during Q2, outlook removes $600 million following GTA 5 delay

Report Grand Theft Auto V releases Spring 2013
Take-Two had a great second quarter (ending September 30), with revenues of $273.1 million, a 155 percent increase from the $107 million in the previous Q2. At the end of the day, however, the company did have a net loss of $12.5 million, which is still significantly better than the $123.3 loss from the same period last year.

The big gun during the quarter was Borderlands 2, which shipped over 5 million units, along with catalog sales of Grand Theft Auto 4 and Red Dead Redemption. Revenue from digital distribution was up 108 percent year-over-year, with "strong digital sales" (i.e. non-retail) mentioned for new releases Borderlands 2 and XCOM: Enemy Unknown.

With Grand Theft Auto 5 officially given a spring 2013 release window, it should be noted that Take-Two reduced its "financial outlook" for the fiscal year ending March 31, 2013, removing $600 million in forecasted sales. That extra $600 million raised our eyebrows when it appeared in the company's projections at the beginning of the fiscal year, as the math would only really work out if Take-Two was planning GTA 5 before April 1, 2013. That is, obviously, no longer the case and the company has reduced its outlook to "reflect its revised assumed release schedule."

This article was originally published on Joystiq.