Q1 2008 Sees a $38 Million Loss for Take-Two; GTA Sells 66M to Date
That company that hasn’t quite been taken over – yet – released their financial results for Q1 2008 this week. Take-Two posted a net loss of $38 million, which is an increase of 77% over the 21.5 million loss they suffered in the same period last year. The amount can likely be attributed to a decrease in revenue from the previous year, from $277.3 million to $240.4 million, reports GamesIndustry.biz.
There were no major releases for the company during the period.
“We are pleased with Take-Two’s stronger than expected top and bottom line results for the first quarter,” said chairman Strauss Zelnick.
“Our performance benefited from a diverse range of hit titles in the first quarter, and we are eagerly awaiting the release of Grand Theft Auto IV in the second quarter.
“We believe that our extraordinary creative assets and improving operational efficiency will be sources of significant value for shareholders as the interactive entertainment industry moves further into the current growth cycle.”
Following these announcements, Zelnick revealed that the Grand Theft Auto has sold 66 million units to date and said Rockstar is working on “at least one major sequel” which will release in 2009. As for what that might be, we don’t know. I shudder to think that Rockstar would be churning out another GTA title in the space of roughly a year. And I’m not quite sure if Manhunt 3 would really be considered a “major sequel.”