Take-Two Interactive Reports $50 Million First-Quarter Loss

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Take-Two InteractiveTake-Two Interactive announced its financial results for its fiscal first quarter ended January 31, 2009.
For the quarter, Take-Two Interactive reported a net loss of $50.388 million, compared to a net loss in the same period the previous year of $37.997 million. The company tried to spin the quarter as "better than expected performance," but that doesn't alter the nature of the loss. It should also be pointed out that the company's stock is trading at below $7 a share, while management rejected an offer to be acquired by Electronic Arts at $25.74 per share.

The company was pleased to point out that it has shipped more than 13 million copies of Grand Theft Auto IV as of the end of January. That's wonderful, but Take-Two has already gotten all the mileage investors are going to give it concerning Grand Theft Auto IV, and are now looking for Take-Two Interactive's management to make good on the promises it made when they fought the EA acquisition offer.

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This page contains a single entry by Editor published on March 10, 2009 2:03 PM.

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