Take-Two sees net loss of $124 million in Q2 without GTA 5 sales
Take-Two reported net revenue of $148.8 million in Q2 2014, down from $273.1 million the previous year. The company saw a net loss of $124.1 million, compared with $12.4 million in Q2 2013, and it has $661.9 million cash on-hand. Q2 ended September 30 and included the launch of The Bureau: XCOM Declassified and Borderlands 2 GOTY.
All of these numbers ignore the fact that Rockstar's Grand Theft Auto 5 launched during Q2 2014. Take-Two is pushing these sales figures to Q3 2014, since that's when Grand Theft Auto Online launched. Grand Theft Auto 5 raked in $1 billion in retail sales in three days and has shipped 29 million copies.
Combine Grand Theft Auto 5 with holiday sales and Take-Two predicts non-GAAP net revenue in Q3 2014 to hit a high of $700 million, with the fiscal year ending at $2.3 billion on March 31.
"Take-Two is increasing its financial outlook for fiscal year 2014 to reflect its strong fiscal second quarter results and positive outlook for the remainder of the year," Take-Two says.
