17 December 2010

The west and a basketball drive Take-Two to profitability

Despite the lack of a new Grand Theft Auto title on the market, Take-Two is reporting a grand win as the publisher’s revealed that Red Dead Redemption and NBA 2K11 helped drive the company back to profitability. Take-Two’s earnings reached $1.16 billion (USD) over the 12 months ending October 31 (an increase of 65 per cent), with profits of $42.6 million.

“We have achieved our goal of profitability in a year without a new release of Grand Theft Auto,” said CEO Ben Feder, adding that “our better-than-expected revenue growth and margin expansion were driven by strong demand for our diverse portfolio of games.”

Feder also mentioned that the 2K Sports division also brought profitability to the company.

While award-winning Red Dead Redemption, with “nearly 8 million units” shipped to retail, has evidently been the highest grossing title for Take-Two, it’s not without the help of NBA 2K11

No comments:

Post a Comment