Take-Two losses increase for Q1, revenues slope up

By Patrick Garratt, Tuesday, 10 March 2009 21:18 GMT


Take-Two’s confirmed a first quarter loss of $50.4 million compared to a net loss of $38.0 million in the same period last year.

The publisher pinned the drop on “higher marketing, legal, and research and development expenses.”

Revenue for the three months ending January 31 rose slightly, up to $256.8 million compared to $240.4 million for the corresponding previous period.

Sales for the quarter were highlighted by Grand Theft Auto IV, Carnival Games, NBA 2K9 and Midnight Club: Los Angeles.

“Take-Two led off fiscal 2009 with somewhat better than expected performance,” said company boss Strauss Zelnick.

“Our sales reflected the continued strength and diversity of our portfolio of top franchises, including Grand Theft Auto IV, Carnival Games, NBA 2K9 and Midnight Club: Los Angeles. Looking to the balance of the year, the economy remains challenging and uncertain, and our industry will not be immune to this environment.

“Consumers will continue to be highly selective in their purchases, including interactive entertainment. We need to deliver innovative, exceptionally compelling products to compete for this more limited consumer spending, and we are confident in our ability to do so.”

Sometimes we include links to online retail stores. If you click on one and make a purchase we may receive a small commission. For more information, go here.



Take Two Q1 Financials 2009

  • Take-Two: All future titles will have multiplayer or DLC

    Take-Two says that all future titles will have at least something on the back end for consumers, be it DLC or multiplayer. The company refused to go into specifics, stating that it’s considered on a title-by-title basis, but it said it understood the consumer need for extra content. The news comes from tonight’s Take-Two Q2 […]

  • Housers to receive 2,849,003 shares in Take-Two stock

    Kotaku’s noticed that the Houser brothers were confirmed getting a Take-Two stock windfall of 2,849,003 shares in last night’s Q1 financials, which equates to roughly $18 million. Nice work if you can get it. The Housers are now tied into producing games for the company until 2012. With profit share included, obviously. Get the rest […]