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Max Payne 3, Spec Ops sell 'below expectations'

Take-Two misses first quarter results forecasts

Rockstar parent company Take-Two has blamed lower-than-expected Max Payne 3 and Spec Ops: The Line sales for missing its first quarter forecasts.

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Despite being two of the "strongest contributors to net revenue" in the quarter, and having shipped 3 million copies of Max Payne 3, the firm pointed to "lower-than-anticipated sales of Spec Ops: The Line and Max Payne 3" as key reasons for missing its financial targets.

For the first quarter of fiscal 2013, net revenue was $226.1 million, as compared to $334.4 million for the first quarter of fiscal 2012, it confirmed today.

"Although our first quarter results were below expectations due to lower-than-anticipated sales of Spec Ops: The Line and Max Payne 3, the outlook for our slate of upcoming releases is stronger than ever," said Strauss Zelnick, chairman and CEO of Take-Two.

"Early consumer enthusiasm suggests robust demand for our extraordinary lineup of upcoming releases, particularly Borderlands 2, NBA 2K13 and BioShock Infinite. We continue to expect fiscal 2013 to be one of the best years in Take-Two's history," he added.

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