Take-Two has released its financial results for Q1 of its 2014 financial year, and the massive publisher has said that its revenue was boosted by strong digital sales.<\/p>\n
The GTA-publisher racked up net revenue of $144.3 million for Q1, compared to $226.1 million in the same period of the previous year, which benefitted from the release of Max Payne 3 and Spec Ops: The Line.<\/p>\n
The loss for Q1 2014 was $47.1 million \u2013 an improvement from the $98.8 million from the previous year\u2019s respective period.<\/p>\n
The largest contributors to net revenue in fiscal first quarter 2014 were offerings for Borderlands 2, NBA 2K13, Grand Theft Auto IV, and Bioshock Infinite,\u201d said Take-Two.<\/p>\n
\u201cCatalog sales accounted for 60% of Non-GAAP net revenue led by the Borderlands franchise, the Grand Theft Auto franchise, and Red Dead Redemption,\u201d added the publisher.<\/p>\n
Take-Two explained that revenue from digitally delivered content grew 128% year-over-year and accounted for a record 52% of Non-GAAP net revenue.<\/p>\n
\u201cOur better-than-expected first quarter results demonstrate that the market remains strong for the highest-quality interactive entertainment,\u201d said Strauss Zelnick, Chairman and CEO of Take-Two.<\/p>\n
\u201cWith Grand Theft Auto V launching on September 17th, followed by the releases of NBA 2K14 and WWE 2K14, fiscal 2014 is poised to be one of our best years ever,\u201d added Zelnick.<\/p>\n
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