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Take Two posts loss in Q1 2011 financial results

Take Two Interactive has announced its Q1 2011 financial results, declaring a $8.6m loss, compared to $27.4mincome for Q1 2010.

Key sales were led by Rockstar product, with L.A. Noire being its top new IP selling in over 4m units, and Red Dead Redemption leading the back catalogue, having sold in over 11m units (including the Undead Nightmare pack).

Take Two has increased its projected revenue for Q2 2011 from $70m to $85m, and for FY2011 from $1bn to $1.1bn.

Calendar 2012 has a strong lineup from 2K Games including The Darkness II, X COM, Bioshock Infinite, Spec Ops: The Line and the recently announced Borderlands 2.

Strauss Zelnick, chairman and CEO of Take Two, also said of FY2013: "We have a very strong lineup of yet-to-be-announced titles in development."

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