TakeTwo reports annual net loss of $312 million, rise in digital revenue
Take-Two announced its financial results for the fiscal year ending March 31, 2013, revealing that the company took in $1.214 billion in sales last year, up from $825.8 million for the fiscal year 2012.

Take-Two notes that BioShock Infinite met with "significantly" higher sales than any previous BioShock release, shipping over 3.7 million units to date. The company reports a net loss of $31.2 million over the past fiscal year, but projects between $1.75 to $1.85 billion in revenue for the current fiscal year (ending in March, 2014), spurred by upcoming releases like Grand Theft Auto V and WWE 2K14.

The report notes year-over-year improvements in both revenue and net losses, bolstered by big sellers like Borderlands 2, NBA 2K13, and XCOM: Enemy Unknown. Catalog sales for older releases like Grand Theft Auto IV and Red Dead Redemption also saw strong performances, as Take Two noted a 192 percent year-over-year rise in revenue from digitally delivered software.

This article was originally published on Joystiq.