Hot Coffee burns Take 2

July 21st by Lisa Foster

The Hot Coffee debacle could cost Take 2 Interactive around $40m in revenues and up to $28m in net income.

The company has been forced to lower its Q3 and full year forecasts after admitting responsibility for the ‘hidden’ sex mini-game in GTA: San Andreas and the subsequent change of the ESRB rating to Adults Only.

As a result, Take 2 is lowering its Q3 fiscal guidance for revenues from a $205-215m to $160-170m. In addition, the publisher’s full year revenues are now expected to be $1.26-1.31 billion, down from $1.30-1.35 billion.

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