Take Two reports record Q3

Christopher Dring
Publisher Take Two has beaten its expected results for the financial period ending July 31st.

The firm has reported $433.8 million (£245 million) in net revenue for Q3, a huge leap when compared to the $206.4 million (£117 million) reported the year before. The figure also beats the company’s own financial guidance of $375 million (£212 million).

Net income for the period was at $51.8 million (£29 million), compared to a loss of $58.5 million (£33 million) the year before.

The firm’s success has been driven by the PS3 and 360 smash hit Grand Theft Auto IV, which has sold in excess of ten million copies. Take Two also highlighted Top Spin 3, Sid Meier’s Civilization Revolution and Carnival Games as other contributing factors.

"I'm extremely pleased with our strong position heading into the holiday season,” said Take Two CEO Ben Feder. “Our world-class holiday portfolio includes Grand Theft Auto IV, Top Spin 3, Sid Meier's Civilization Revolution, and Carnival Games, as well as upcoming hits such as Midnight Club: Los Angeles, BioShock for PS3, and a range of sports titles.

“Longer term, we're sharply focused on bringing our popular products to new regions and new markets, as we continue to seek opportunities for profitable growth and enhanced stockholder value."

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Tags: gta iv , take-two , bioshock , financials

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