Strong year for Take-Two

Ben Parfitt
Strong year for Take-Two

Take-Two has reported a 49 per cent increase in revenues year-on-year for the 12 months ending March 31st.

Revenue hit $1.14bn while profits reached $53.8m. In the year before it posted a loss of $108.1m. Q4 revenues fell from $233.2m in 2010 to $182.3m, while losses for the period also increased from $9.7m last year to $22.4m.

The best performing Q4 games were NBA 2K11, Top Spin 4, Major League Baseball 2K11, the Grand Theft Auto IV: Complete SKU and the standalone Red Dead Redemption expansion Undead Nightmare.

Digital accounted for 15 per cent of the quarter's returns.

LA Noire, which released last week, fell outside of the reporting period but early indications for the game are very positive, though Take-Two declined the chance to reveal concrete sales numbers.

"Fiscal 2011 was a very strong year for Take-Two," CEO Strauss Zelnick stated. "We generated revenue growth and margin expansion that consistently exceeded expectations, and also took action to position the company for even greater success over the long-term.

"We try to be folks that shy away from early projections and we'd rather announce things after they happen, but we're really pleased [with LA Noire] and the early feedback from the channel is also exceedingly strong.

"We certainly don't want to be subject to comping all of our new releases of new franchises against the extraordinary success of Red Dead Redemption. Every title stands alone. That said, we have every reason to believe that LA Noire is another strong franchise for this company. No matter how you slice it, it's a very successful release."

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Tags: la noire , sales , take-two , profit , fiscal , revenue

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