Take-Two Reports Another Losing Quarter

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Take-Two InteractiveTake-Two Interactive Software reported its financial results for its first fiscal quarter ended January 31, 2010:
For the quarter, Take-Two reported a net loss of $33.874 million, compared to a net loss in the same quarter the previous year of $50.388. This is particularly disappointing, given that the quarter included Take-Two's holiday season.

Take-Two continues to launch restructuring plans. The latest effort plans to reduce the company's headcount by 15%, resulting in around $8 million of savings in 2010. The company's loss was less than some analysts expected, but contributes to a long string of losses by the company.

For the quarter, Take-Two received 42% of revenues from the sale of Xbox 360 games, 19% from the sale of PlayStation 3 games and 13% from the sale of Wii games, with other platforms making up the balance.

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This page contains a single entry by Editor published on March 3, 2010 3:40 PM.

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