Take-Two Q3 financials down year-over-year, still within predictions
Take-Two Interactive has released its financial figures for the third quarter of fiscal 2012, which ended on December 31, 2011. While "in line" with the publisher's predictions, results are down when compared year-over-year to the same period in fiscal 2011.
During Q3 2012, Take-Two's net revenue of $236.3 million was $97.7 million less than its net revenue of $334.3 million in Q3 2011. Operational income for the period was $14.2 million, down $22.6 million from the same quarter last fiscal year. Take-Two attributes this disparity to the fact that fiscal 2011 benefitted from the launch of Red Dead Redemption and its Undead Nightmare DLC more so than fiscal 2012 was able to.
When looking at the entirety of Take-Two's fiscal 2012 performance so far, the downward year-over-year trend continues with an overall net revenue of $677.7 million (compared to 2011's $954.6 million), and an operating loss of $76.2 million (compared to 2011's operating income of $76.2 million).
The company has also adjusted its outlook on Q4 in response to moving Max Payne 3's release date into the first quarter of fiscal 2013. It now expects net revenue for the period ending on March 31, 2012 to land between $112 million and $162 million, with its prediction for all of 2012 adjusted accordingly to a range of $790 million to $840 million.
