Take Two not expecting profit this year

Ben Parfitt
Take Two not expecting profit this year

Though the title means little to consumers on this side of the Atlantic, the disappointing performance of 2K Sports’ Major League Baseball has lead to parent company Take Two cutting its profit forecast for the current financial year.

The publisher now expects full year revenue of $950-975m for the year ending October 31st but it does not expect to see a profit in the current fiscal year.

Looking ahead the likes of BioShock 2, Mafia II and Red Dead Redemption should see a strong performance from the publisher, though its shooting sequel Max Payne 3 has been delayed – it will now be released in fiscal Q4 2010, or between August and October.

Also of note is the fact that recent quarters have seen the release of Grand Theft Auto IV’s Xbox 360 and digital only expansions The Lost and Damned and The Ballad of Gay Tony. Rockstar has always remained secretive about the DLC’s sales numbers. Clearly they alone weren’t enough to propel Take Two’s numbers upwards.

“We remain committed to our goal of operating profitably,” Take Two chairman Strauss Zelnick explained. “However, we do not currently expect to achieve that goal in fiscal 2010.

“We have an outstanding product portfolio, exceptional creative talent and a solid balance sheet, and are confident that these strengths will provide a sound foundation for improved performance.”

CEO Ben Feder added: We continue to pursue a strategy of building a select, diverse portfolio of top quality titles and to invest our resources in the most promising products and most compelling market opportunities.

“The industry is a hits-driven business, and our creative and financial resources are dedicated to making great games. Our focus going forward will be on executing better on this strategy in order to drive improved results.”

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Tags: two , profit , loss , fiscal , revenue , forecast , delayed , financial , 3 , payne , take , max

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