Take-Two Interactive Reports Profitable Year

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Take-Two InteractiveTake-Two Interactive announced its financial results for its fourth fiscal quarter and financial year ended October 31, 2010. Read on for more details.
For the fourth quarter, Take-Two Interactive reported net income of $53.789 million, compared to a net loss in the same quarter the previous year of $23.521. The company identified the biggest contributing products as NBA 2K11, Mafia II, Red Dead Redemption, Sid Meier's Civilization V, Grand Theft Auto IV: Complete and New Carnival Games.


For the fiscal year, Take-Two Interactive reported net income of $42.593 million compared to a net loss of $140.454 million in the previous year. Ben Feder, the company's Chief Executive Officer, commented, "We have achieved our goal of profitability in a year without a new release of Grand Theft Auto." FI supposes that Feder is excluding downloadable content and compilations (such as the one named as contributing to fourth quarter results).

Take-Two Interactive also reiterated that it has changed the end of its financial year to March 31, meaning that it is now entering into an unusually short financial year.

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