Take-Two Financials Plummet, Posts $41m Loss

Quarterly income figures take a battering.

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Take-Two Financials Plummet, Posts $41m Loss
Take-Two has always had to carry around the myth that it would suffer without a Rockstar title in its lineup. But the publisher is probably wishing that Max Payne 3 isn't so far away - it's just posted a loss for the nine month period ending 31st December 2011 of $41.7 million.

That's quite a drop, when you consider that in the same period in 2010 it posted $76.2 million in profit.

The company's third quarter figures in particular make for some grim reading. Net revenue is down to $236.3 million compared to $334.3 million during the same period a year ago. GAAP Gross Profit for the three months ending 31st December 2011 fell to $109,858 compared to $145,609 during the same period in 2010.

"The strongest contributors to net revenue in the third quarter were the release of NBA 2K12; catalog sales led by the Grand Theft Auto franchise, Red Dead Redemption, Midnight Club Los Angeles and Borderlands; and continued sales of L.A. Noire," reads a company statement.

"Digitally delivered content accounted for 11% of net revenue, driven by offerings for the Grand Theft Auto franchise particularly the Grand Theft Auto III 10th Anniversary Edition for iOS and Android, Red Dead Redemption, Borderlands and L.A. Noire."

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