S&S News: Take-Two Q1: BioShock Infinite sales pass 4 million units

Take-Two has reported its financials for Q1 fiscal year 2014 and announced during a call to investors this evening that BioShock Infinite moved over 4 million units.

For the quarter ending June 30, 2013 net revenue reported was $142.7 million, compared to $226.1 million year-over-year – a period which benefited from the release of Max Payne 3 and Spec Ops The Line. The firm reported a net loss of $61.9 million compared to $110.8 million year-over-year.

The largest contributors to net revenue were: Borderlands 2, NBA 2K13, Grand Theft Auto 4, and BioShock Infinite.

Catalog sales accounted for 60% of net revenue led by the Borderlands, Grand Theft Auto, and Red Dead Redemption franchises.  Revenue from digitally delivered content grew 128% year-over-year and accounted for 52% of revenue – driven by offerings for Borderlands 2, the Grand Theft Auto franchise, NBA 2K13, and BioShock Infinite.

“Our better-than-expected first quarter results demonstrate that the market remains strong for the highest-quality interactive entertainment,” said Strauss Zelnick, chairman and CEO of Take-Two. “We continue to benefit from robust demand for our recent genre-leading releases, iconic catalog titles and growing portfolio of innovative digitally delivered offerings.

“With Grand Theft Auto 5 launching on September 17, followed by the releases of NBA 2K14 and WWE2K14, fiscal 2014 is poised to be one of our best years ever.

“Looking ahead, we are well-positioned to capitalize on the opportunities presented by the upcoming launches of the next-generation consoles. We have an extensive development pipeline, highlighted by proven franchises and groundbreaking new intellectual property. As a result, we expect to continue to deliver profits in fiscal 2015 and for the foreseeable future.”

Take-Two’s lineup of future titles announced to date includes: The Bureau: XCOM Declassified, Grand Theft Auto 5, NBA 2K14, WWE 2K14, Borderlands 2: Ultimate Vault Hunter Upgrade Pack 2: Digistruct Peak Challenge (DLC), NBA 2K14, and BioShock Infinite: Burial at Sea (DLC).

For the three months ending June 30, 2013, 60% of revenue came from North American sales, compared to 47% year-over-year. International sales accounted for 40% of sales, compared with 53% yoy.

The platform revenue mix for the quarter came in as follows: console 73% compared to 84% year over year; PC and other accounted for 25% – up from 14% the prior year, and handheld games revenue remained flat at 2%.