Take Two Reports Strong Third Quarter on Grand Theft Auto 4 Sales

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Take-Two InteractiveTake-Two Interactive announced its financial results for its fiscal third quarter ended July 31, 2008 – a quarter that benefited heavily from the release of Grand Theft Auto 4.
For the quarter, Take-Two Interactive reported net income of $51.826 million, compared to a net loss of $58.546 million in the same quarter the previous year. Take-Two said that sales were driven by Grand Theft Auto 4 (and, to a lesser extent, by Top Spin 3 and Sid Meier's Civilization Revolution).

Take-Two Interactive's results include a $12.6 million expense relating to stock-based compensation, around $5.4 million in expenses relating to Electronic Arts' efforts to purchase Take-Two and $1.8 million of reorganization costs. But the real highlight is still Grand Theft Auto 4. The game sold more than 10 million copies as of August 16. Also, Take-Two Interactive's Carnival Games for the Wii and DS have shipped more than two million copies since launched in the second half of 2007.

54% of the company's revenues game from North America, and by platform, 44% came from the sale of Xbox 360 while 37% came from the Sale of PlayStation 3 games (with other consoles making up the remainder). If you assume that sales of Grand Theft Auto 4 dwarfed all other sales during the quarter, you can surmise from these numbers that Grand Theft Auto 4 sold slightly more copies on the Xbox 360 than on the PlayStation 3.

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This page contains a single entry by Editor published on September 4, 2008 4:31 PM.

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