Grand Theft Auto publisher, Take Two Interactive laid out its first quarter financial earnings report in New York yesterday. It also confirmed that BioShock 2 and GTA IV 'second episode' were on track to release in "the remainder of fiscal 2009".
Take Two's first quarter ended on January 31st.
In terms of numbers, net revenue was up on the same period last year with $256.8 million earned as opposed to $240.4 million for the same period in 2008. Net losses, however, were also up with a -$50.4 million on the books for this quarter compared to $38.0 million for the same period last time around. The company puts this increased loss down to, "higher marketing, legal, and research and development expenses."
GTA IV remains the company's highlight, with the earnings announcement stating that, 13 million units of the game have been "shipped as of January 31, 2009." The game released on console on April 29th 2008.
Ben Feder, Chief Executive Officer of Take-Two, said of the news, "We believe that in this economic environment, publishers that can offer both quality and value will attract the broadest audience of consumers.
"We believe Take-Two is solidly positioned on both fronts, with our world-class studios creating triple-A titles and Jack of All Games' expertise in distributing value products. We will continue to focus on our competitive strengths in both of these areas, while also investing in promising emerging markets, and leveraging our leading edge software development tools and technologies.
"We recognize the challenges of balancing efficiency with creativity, and our team believes that we can manage the business effectively without sacrificing our renowned standards for excellence."
See the full report here.
Take Two's first quarter ended on January 31st.
In terms of numbers, net revenue was up on the same period last year with $256.8 million earned as opposed to $240.4 million for the same period in 2008. Net losses, however, were also up with a -$50.4 million on the books for this quarter compared to $38.0 million for the same period last time around. The company puts this increased loss down to, "higher marketing, legal, and research and development expenses."
GTA IV remains the company's highlight, with the earnings announcement stating that, 13 million units of the game have been "shipped as of January 31, 2009." The game released on console on April 29th 2008.
Ben Feder, Chief Executive Officer of Take-Two, said of the news, "We believe that in this economic environment, publishers that can offer both quality and value will attract the broadest audience of consumers.
"We believe Take-Two is solidly positioned on both fronts, with our world-class studios creating triple-A titles and Jack of All Games' expertise in distributing value products. We will continue to focus on our competitive strengths in both of these areas, while also investing in promising emerging markets, and leveraging our leading edge software development tools and technologies.
"We recognize the challenges of balancing efficiency with creativity, and our team believes that we can manage the business effectively without sacrificing our renowned standards for excellence."
See the full report here.
Companies:
Take 2
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