Take Two Q2 sales hit $540m

Take Two has raised its FY2008 fiscal after a stunning second quarter that saw a $149m year-on-year rise in profits.

The firm reported net revenues of $539.8 million for the quarter ended April 30th, compared to $205.4 million a year before.

Quarterly net profit stood at $98.2 million, up $149.4 million from a net loss of $51.2 million for Q2 2007.

Unsurpringly, Take Two said the growth had been driven by GTA IV – which was only on sale for two days within the quarter.

The firm added that H1 revenues now stood at $780.3 million, up from $482.8 million a year before, whilst net income for the six months was $60.2 million – up from a loss of $72.8 million for the comparable quarter last year.

The New York-based publisher has now increased its fiscal year sales guidance to $1.5 billion from $1.4 billion. The firm’s FY ends October 31st.

It has also raised its third quarter sales guidance to $375 million from $325 million, and its Q4 guidance to $350 million from $300 million.

Take-Two chair Strauss Zelnick said in a statement, "Take-Two’s performance has exceeded expectations through the first half of fiscal 2008, clearly demonstrating the creative, operational and financial strength of our business."

About MCV Staff

Check Also

CCP Logo

CCP says it is ‘moving away from publicly announcing internal project codenames’

"We want to show you rather than tell you how we have evolved this concept"