Gearbox's new shooter helps Take-Two post $10.2 million profit on $273 million in revenue for latest financial period; digital sales up 108 percent.
Borderlands 2 was a big hit. 2K Games parent company Take-Two Interactive reported earnings today for the three months ended September 30, revealing Gearbox Software's new shooter has shipped 5 million copies since launch in September.
Take-Two called the launch one of the "most successful releases" in 2K history and noted that in addition to healthy sales at retail, the game has also enjoyed "strong" digital sales. It was not announced how many copies of Borderlands 2 were actually sold to consumers.
Borderlands 2 was not the only significant contributor to Take-Two's bottom line for the three-month period. According to the publisher, catalog sales of Grand Theft Auto IV and Red Dead Redemption also were key contributors.
Also a bright spot on Take-Two's sales sheet was digital content. The publisher said revenue from digitally delivered content surged 108 percent year-over-year, driven by offerings from the Borderlands, Grand Theft Auto, and Civilization franchises, as well as Max Payne 3.
In all, Take-Two posted net revenue of $273.1 million for the period, up 155 percent from the $107 million the company hauled a year ago prior. Profits hit $10.2 million, as compared to a loss of $39.4 million from a year ago.
Take-Two also reiterated yesterday's news that Grand Theft Auto V is on schedule for an Xbox 360 and PlayStation 3 launch during spring 2013. Company chairman and CEO Strauss Zelnick said he expects this title to contribute "substantial revenue and earnings growth" in the next fiscal year.
Take-Two will hold a call this afternoon, during which Zelnick and other company executives will talk in greater detail about earnings. Check back later for news from the presentation.
