Take-Two Interactive Announces Solid Second Quarter Results on Grand Theft Auto IV Sales

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Take-Two Interactive announced its financial results for its second fiscal quarter ended April 30, 2008.
During its second quarter, Take-Two Interactive reported net income of $98.222 million, compared with a net loss of $51.249 million in the same quarter the previous year.

The dramatic change in income isn't hard to understand if you just think: Grand Theft Auto IV. Despite the massive increase in revenues caused by Grand Theft Auto IV, Take-Two Interactive incurred several major expenses, including $12.4 million of stock-based compensation expenses, $16.3 million in business reorganization costs and $3.8 million in fees ("primarily related to Electronic Arts' unsolicited tender offer").

Regarding Grand Theft Auto IV Take-Two Interactive reiterated that it has sold around 8.5 million copies of the game. During the quarter, approximately 65% of revenues were from North America. By platform, 46% came from the Xbox 360, 36% came from the PlayStation 3 and other platforms made up the balance of sales.

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This page contains a single entry by Editor published on June 5, 2008 1:29 PM.

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