Take-Two profits beats expectations on strong GTA IV

By Patrick Garratt, Thursday, 5 June 2008 21:48 GMT

Take-Two’s beaten expectations for its second quarter, ending April 30. Net profit was $98.2 million, or $1.29 cents per share, compared with a net loss of $51.3 million, or 71 cents per share, a year earlier.

Revenue was $539.8 million, up 160 percent from $205.4 million a year earlier.

GTA IV, obviously, has been pinned as the money-driver for the period.

The company has raised expectations for its third quarter, saying it will earn 45 cents to 55 cents per share, excluding special items, on revenue of between $325 million and $375 million.

The company was expected to earn 35 cents per share, excluding items, on revenue of $322 million.

More on Reuters.

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