Red Dead Redemption publisher Take-Two reported losses of $47.3 million for the second quarter, down from the $8 million profit for the same period last year.
Revenues were also down to $107 million from $245 million in 2011, from sales of catalogue and digital content. Digital accounted for 25 per cent of revenues during the three month period, driven by GTA, Borderlands, Red Dead Redemption and Sid Meier's Civilization.
"Our second quarter results exceeded expectations, driven by strong demand for the company's catalogue offerings and digitally delivered add-on content that deepens the consumer experience," offered Strauss Zelnick, chairman and CEO of Take-Two.
"Looking ahead, Take-Two has the strongest development pipeline in the company's history. At the cornerstone of our stellar line-up is the recently announced next instalment of Rockstar Games' iconic franchise that has sold-in more than 114 million units - Grand Theft Auto V.
He added: "The creative team at Rockstar Games continues to set benchmarks for excellence with every new release and we're confident that consumers' enthusiasm will be rewarded with a breathtaking entertainment experience that can only be provided by Grand Theft Auto."