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Take-Two posts slight losses in Q1 2015

Digital revenue up to 64 percent of total

Take-Two posted a net revenue of $125.4 million in the first quarter of its 2015 fiscal year, the parent group of 2K and Rockstar Games announced Tuesday.

Net revenue for the three month period which ended on June 30 was down 12 percent compared to the $142.7 million recorded for the same period of its 2014 fiscal year. However, its net losses shrank by nearly 43 percent to $35.4 million, down from $61.9 million last year.


Take-Two's slimmer revenue can be partially attributed to its lack of major releases: the firm cited NBA 2K14, Grand Theft Auto V, Grand Theft Auto Online and Borderlands 2 as driving revenue for the period. That's the same list it reported in May, minus BioShock Infinite.

The company's digital sales continued to outpace its packaged goods figures: digital online sales of $80.2 million accounted for 64 percent of its first quarter 2015 net revenue, compared to $72.9 million accounting for 51 percent of the same period's revenue last year.

Take-Two CEO Strauss Zelnick said in a conference call with investors that digital currency purchases for Grand Theft Auto Online and NBA 2K14 were the biggest drivers of growth for digital revenue.

Zelnick assured investors that the company's best days of fiscal year 2015 are yet to come in an official statement.

"Take-Two has an extraordinary development pipeline, including a diverse array of the highest-quality new titles and innovative offerings designed to drive recurrent consumer spending," Zelnick said.

"Our lineup for the current fiscal year is highlighted by six eagerly anticipated new releases, such as Grand Theft Auto V for PS4, Xbox One and PC, NBA 2K15, and Evolve - the winner of the E3 2014 Game Critics' Best of Show award. Fiscal 2015 is poised to be another year of strong profits for our organization, and we remain extraordinarily well-positioned for the future."