Video Game Maker Take-Two Reports an Unexpected Profit

Sat, Sep 4, 2010

Games, News


Take-Two Interactive Software, house of the Grand Theft Auto recording games, reportable an unheralded third-quarter acquire and upraised its earnings looking on income of its newest release, Red Dead Redemption.

Profit excluding whatever items was 28 cents a share, the consort said on weekday in a statement. That compares with the cipher 8-cent expiration estimated by 13 analysts in a Bloomberg survey. Take-Two prognosticate a 2011 acquire of 60 to 70 cents, its prototypal in a assemblage when it module not have a newborn Grand Theft game. Analysts had estimated a full-year expiration of 20 cents.

Trading in Take-Two shares was halted until 4:20 p.m. Eastern after the results were announced. They winking up 29 cents, or 3.4 percent, to $8.85. In after-hours trading, shares were up more than 10 percent.

Red Dead Redemption, more than quaternary eld in development, was created by Rockstar Games, a organisation of Take-Two that also makes Grand Theft Auto. The game, ordered in the Wild West in the primeval 20th century, has been substantially conventional by critics.

Red Dead, digit of a containerful of field housing games free this summer, benefited from brawny income of the redesigned Xbox mettlesome housing from Microsoft and modify prices for Sony PlayStation 3, said Mike Hickey, an shrink for Janco Partners.


Take-Two said third-quarter gain income was $5.92 million, or 7 cents a share, in oppositeness to a expiration of $56.5 million, or 73 cents, a assemblage earlier. Revenue more than tripled, to $354.1 million, from $94.9 million.

After delays in development, Take-Two free Mafia II on Aug. 24 to brawny initial sales, according to product-tracking firms in the United States and Britain.

Other newborn games regular for promulgation this assemblage allow NBA 2K11 and the stylish process of the favourite Civilization mettlesome for PCs.

Some analysts in investigate notes before the declaration said gains for Take-Two shares would be restricted until the promulgation of the incoming Grand Theft Auto installment.


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