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Tuesday, 11 September 2007 07:04

Take-Two reports smaller quarterly loss

Written by David Stellmack

Image

Still going strong despite losses


 

Take-Two Interactive Software, Inc., the video game publisher of such popular video games as “Grand Theft Auto,” announced a quarterly loss for its fiscal Q3 of $58.5 million.

Its performance improved over its Q3 performance one year earlier where Take-Two lost $91.4 million.  Performance was reportedly improved by successful sales of its newly released titles. “Grand Theft Auto IV,” “The Darkness,” "Fantastic Four: Rise of the Silver Surfer," "All-Pro Football 2K8" and just released title, “Bioshock.”  Take-Two announced that Bioshock has made gaming history records, having shipped almost 1.5 million copies of the video game since it was released on August 21st.

Despite record level sales of popular video games Take-Two has been mired down with legal problems related to internal questionable stock option practices and threatened with litigation over the violent and sexual content in its “Grand Theft Auto” games. Investors pressured Take-Two’s Board of Directors to replace the company management of Take-Two last spring and the company has been attempting to right itself in the stormy waters it has been traveling in for some time.

Last modified on Tuesday, 11 September 2007 10:10

David Stellmack

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